Citibank is effectively acknowledging that they did not have the resources to survive alone without government assistance. I did not use the words bankrupt or insolvent.
In short, a punt.
Monday, November 24, 2008
Reaction to Citi Bailout
http://economistsview.typepad.com/economistsview/2008/11/the-citigroup-b.html
In short, a punt.
In short, a punt.
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2 comments:
my initial thought upon hearing about Citibank's potential bankrupcy was, Yipee! this will cancel out the small fortune's worth of debt I have stored up on my trusty Citi-card... right?
Nope. The Debt will just be sold to someone else. You would need something larger.
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