Monday, November 24, 2008

Reaction to Citi Bailout

http://economistsview.typepad.com/economistsview/2008/11/the-citigroup-b.html

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.
at

2 comments:

  1. Pat RNovember 24, 2008 at 7:43 PM

    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?

    ReplyDelete
  2. Robertm73November 25, 2008 at 6:13 AM

    Nope. The Debt will just be sold to someone else. You would need something larger.

    ReplyDelete