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  1. 11-24-2008 11:51 AM #1
    Maylar's Avatar
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    Citigroup Bailout is a GO

    Citigroup secures government lifeline - Nov. 23, 2008
    NEW YORK (CNNMoney.com) -- The U.S. government on Sunday announced a massive rescue package for Citigroup - the latest move to steady the banking giant, whose shares plunged in the past week on fears about its exposure to toxic mortgage securities.

    The plan has two key features:

    First, the U.S. Treasury and the Federal Deposit Insurance Corporation (FDIC) will backstop some losses against more than $300 billion in troubled assets.

    Second, the Treasury will make a fresh $20 billion investment in the bank. The government has already injected $25 billion into Citigroup as part of the $700 billion bailout passed by Congress in October.
    What was that sound? The sound of the national debt getting larger again? Please allow me to express my feelings in a manner that won't let me get banned. $#^(%@^(#%#&$(^$@#&%#$&#@^%$#!%!#IOUSA$%@#$%#@$%@# $%@#$^^%@#$%
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  2. 11-24-2008 11:52 AM #2
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    Quote Originally Posted by Maylar View Post
    Citigroup secures government lifeline - Nov. 23, 2008


    What was that sound? The sound of the national debt getting larger again? Please allow me to express my feelings in a manner that won't let me get banned. $#^(%@^(#%#&$(^$@#&%#$&#@^%$#!%!#IOUSA$%@#$%#@$%@# $%@#$^^%@#$%
    I think a pig just flew out my butt because I agree with you.
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  3. 11-24-2008 11:53 AM #3
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    get ready for an Earth shattering KABOOM

    because I too , agree with you.
    John Adams, 2nd President and signer of the Declaration of Independence warned:
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  4. 11-24-2008 11:58 AM #4
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    Is it time to grab our pitchforks yet?
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  5. 11-24-2008 12:01 PM #5
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    Quote Originally Posted by Dacabeti View Post
    I think a pig just flew out my butt because I agree with you.
    Quote Originally Posted by A.W. View Post
    get ready for an Earth shattering KABOOM

    because I too , agree with you.
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  6. 11-24-2008 12:10 PM #6
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    Quote Originally Posted by Dacabeti View Post
    I think a pig just flew out my butt because I agree with you.
    That mental picture of a pig flying out of your butt is rather amusing if I do say so myself.

    I've been against the bailouts from the beginning however. In my mind it's outright theft of my hard earned money. Any politician that agree's with these bailouts is not representing the will of the majority (70% in fact! It's not like it's a slim majority either!) and in my mind should be FIRED be they Republican, Democrat, Green, Libertarian, whatever.
    The heavens, in their countless stars, hold answers to earthly mysteries. Might, then, the wise, and the lucky, gaze up and find truth?
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  7. 11-24-2008 12:13 PM #7
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    Quote Originally Posted by Maylar View Post
    Citigroup secures government lifeline - Nov. 23, 2008


    What was that sound? The sound of the national debt getting larger again? Please allow me to express my feelings in a manner that won't let me get banned. $#^(%@^(#%#&$(^$@#&%#$&#@^%$#!%!#IOUSA$%@#$%#@$%@#$%@#$^^%@#$%
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  8. 11-24-2008 12:34 PM #8
    metfan1971
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    If major financial institutions abruptly collapsed, it would have a deleterious effect on the broad economy, however we already have a mechanism to prevent the abrupt collapse of companies. It's called Chapter 11. At the most, we might need the government to provide debtor in possession (DIP) financing (since credit markets have indeed seized up), but we don't need a bail out. All that a bail out will do is to allow the shareholders to preserve their stakes (courtesy of Uncle Sam) without having to do any real restructuring.
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  9. 11-24-2008 12:38 PM #9
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  10. 11-24-2008 12:46 PM #10
    NewC
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    Let's bailout the bailout.

    The bailout is too big to fail.
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