washingtonmonthly.com - 11/24/2008
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THE 'OUTRAGEOUS' CITIGROUP BAILOUT.... Following up on Hilzoy's item from late yesterday, Paul Krugman notes this morning that a Citigroup bailout, under the circumstances, may have been worthwhile, but this bailout is outrageous: "a lousy deal for the taxpayers, no...
online.wsj.com - 11/29/2008
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online.wsj.com —
Under fire for his role in the near-collapse
of Citigroup Inc., Robert Rubin said its problems were
due to the buckling financial system, not its own mistakes, and that his role was peripheral to the bank's main operations even though he was one of ...
(more)
Rubin Defends His Role at Citigroup
economistsview.typepad.com - 11/24/2008
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economistsview.typepad.com —
It's bailout time. Let's start with Paul Kedrosky:
Good Bank, Bad Bank, and F---ed Bank : Apparently
Citibank and the U.S. government (i.e., we taxpayers) have reached a deal whereby we will backstop something like $300-billion in screwed assets on ...
(more)
The Citigroup Bailout
nytimes.com - 11/23/2008
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nytimes.com —
Federal regulators were considering a new rescue for
Citigroup on Sunday, a step that could mark a
third leg of the government’s broader efforts to bolster the nation’s financial industry. >
(more)
Plan Begins to Emerge to Rescue Citigroup
Comments
Blog Reactions
Oy
Suburban Guerrilla —
... Krugman points out the Citigroup bailout is “a lousy deal for the taxpayers, no accountability for management, and just to make things perfect, quite possibly inadequate, so that Citi will be back for more. Amazing how much damage the lame ducks can do in the time remaining.” ...
Related Content
The Citigroup bailout
marginalrevolution.com 11/24/2008 — Lots of opinions. Ugh. Arnold Kling says ugh too, with this good line: "...the employment benefit of infrastructure projects is more likely to go to the illegal immigrants who were laid off from housing construction and who otherwise would be...
Krugman on Citigroup Bailout: "a lousy deal"
calculatedrisk.blogspot.com 11/24/2008 — From Paul Krugman: Citigroup Mark Thoma has the rundown of informed reactions. A bailout was necessary — but this bailout is an outrage: a lousy deal for the taxpayers, no accountability for management, and just to make things perfect, quite possibly ...
Citigroup Bailout Unwise
washparkprophet.blogspot.com 12/3/2008 — The Associated Press reported late Sunday that under the loss-sharing arrangement, Citigroup will assume the first $29 billion in losses on the risky pool of assets. Beyond that amount, the government would absorb 90 percent of the remaining losses, ...
Citigroup Bailout: ‘A Lousy Deal For Taxpayers’
wonkroom.thinkprogress.org 11/25/2008 — Last night, federal regulators “approved a radical plan to stabilize Citigroup in an arrangement in which the government could soak up billions of dollars in losses at the struggling bank.” The rescue package “ shields the bank from ...
Krugman: Citigroup Bailout Necessary, But Structured Outrageously
huffingtonpost.com 12/5/2008 — One economist who's not pleased with the way the bailout of Citigroup is structured is Nobel Prize winner, and Princeton economics professor, Paul Krugman. Krugman acknowledged that the bailout was necessary, but wrote on his blog that the structure ...
Citigroup on the Dole
balloon-juice.com 11/24/2008 — So now we are bailing out Citigroup :
Federal regulators approved a radical plan to stabilize Citigroup in an arrangement in which the government could soak up billions of dollars in losses at the struggling bank, the government announced late ...
Time for the Government to Buy Citigroup
delong.typepad.com 11/21/2008 — No real point to merging it into JPMorgan Chase or Bank of America. And it is definitely too big to fail.
Who wants to be Deputy Assistant Secretary of the Treasury for Citigroup?
Peter Eavis:
Share Slump Tests Citi Limits : Following steep ...
Citigroup Scores
robertreich.blogspot.com 11/24/2008 — If you had any doubt at all about the primacy of Wall Street over Main Street; the utter lack of transparency behind the biggest government giveaway in history to financial executives, and their shareholders, directors, and creditors; and the intimate ...
Citigroup bailout: leaving the incompetents in charge
firedoglake.com 11/24/2008 — So, now it's Citi's turn to get bailed out. The plan is to take on Citi's losses beyond a certain (still undetermined) level. If the government does so, Citi will give it either warrants (the right to purchase shares later) or preferred shares. ...
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