Politics

Out of context: Reply #4881

  • Started
  • Last post
  • 33,773 Responses
  • TheBlueOne0

    Here we go again...

    "Nov. 22 (Bloomberg) -- The U.S. government may step in to rescue Citigroup Inc. after a crisis in confidence erased half the bank’s stock-market value in three days, according to investors and analysts.

    Citigroup’s $2 trillion of assets dwarfs companies such as American International Group Inc. that got support from the U.S. government this year. Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben S. Bernanke may favor a rescue to avoid the chaotic aftermath of Lehman Brothers Holdings Inc.’s bankruptcy in September.

    “Citi is in the category of ‘too big to fail,’” said Michael Holland, chairman and founder of Holland & Co. in New York, which oversees $4 billion. “There is a commitment from this administration and the next to do what it takes to save Citi."

    TheBlueOne 0Permalink
    UpvoteDownvote
    Flag
    • This 'too big to fail' notion is insanely irresponsible. These companies need to improve their practices or simply declaretommyo
    • bankruptcy and allow someone new to buy it and revitalize it.tommyo
    • Citibank is too big for one nation to save. Meanwhile expect Switzerland to follow Icelandinto bankruptcyTheBlueOne
    • Ahhh, Rick Rubin, see my post below. Citigroup ignored the risk.
      ********
    Show [[ numHiddenNotes ]] more notesAdd Note
    SaveCancel

View thread