Thursday, March 4, 2010

Gov: We'll Break America to Save Bankers

Reported by Market Watch:
"The sheer magnitude of Citigroup's operations, and the company's history of receiving extraordinary government support, has led this panel to an inescapable conclusion: The United States government will bear any burden and pay any price to ensure that Citigroup does not fail" --Elizabeth Warren, chairwoman of the congressional oversight panel

I guess it is old news that the FDIC has failed and is powerless to insure rapidly imploding $3T Citigroup and their 40x leveraged losses.

The "price" is the wholesale disposal of the U.S Constitution. All to protect congressmen's private IRAs/401Ks, probably amounting to thousands of dollars. And that won't even work.



  1. Run?

    Which direction? How fast?

  2. Let's hope they don't try for another bailout before November


The USA's political-economc system is best described as:

On Nov 2, 2010, I plan to vote (FOR or AGAINST) my incumbent congressman

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