More Bailout For the Super Banks

[falcon]

Citi lost about8 billion dollarslast quarter. Now the company has split.

Bank of America just got another 20 billion dollar bailout from the US government: They got the federal money just before they announced a 4th quarter loss.

These companies have been bailed out to the tune of 45 billion dollars each. When is someone in DC going to wise up and just let them crash?

http://news.yahoo.com/s/ap/20090116/ap_on_bi_ge/earns_citigroup

http://news.yahoo.com/s/ap/20090116/ap_on_bi_ge/earns_bank_of_america

Companies are defaulting on construction loans at a rapid rate. The commercial real estate market shows signs of tanking.

[Canuck_Buck]

Does this mean all the citi credit card holders are off the hook ?

[Fieldmouse]

You should be very happy now that your an independent. The government will now be in control of our banking industry. They will decide executive compensation, perks and who will get loans and who will not. All are issues that you have posted and rant about in the past. So isn't this a good thing?

[falcon]

They will decide executive compensation, perks and who will get loans and who will not.

So long as those executives are sucking off the taxpayers, ithink they should work forminimum wage until their companies realize a profit.By and large those are the same executives whose wrong minded decisions drove their companies into the ground.

[Fieldmouse]

ORIGINAL: falcon

So long as those executives are sucking off the taxpayers, ithink they should work forminimum wage until their companies realize a profit.By and large those are the same executives whose wrong minded decisions drove their companies into the ground.

Are they really sucking off the tax payers? I'm not sure they are. The government is getting choice stock in each of those companies. In some instances, banks are being forced to take money and give up choice stock in those banks eventhough they have said no thank you.

This is a real mess and it will only get worst when you libs and independents realise our government now hasfull control over every industry in this country like never before. Your congressman will decide what industry will get loans for expansion and investment while denying those same loans to another industry based on feelings and public ignorance issues like "Global Warming". That is very scary and will bring down this great nation and capitolism.

[Phil from Maine]

I want CITI Group to go under, I want CITI Group to under!!!! They bought out WAMU who had mymortgage and now they are in a mess as well.. Go Under I say! That should put mymortgage where? Go Under CITI Group and loose all my records for me.. That would be a great thing for me I would think..

[Germ]

ORIGINAL: Phil from Maine

I want CITI Group to go under, I want CITI Group to under!!!! They bought out WAMU who had mymortgage and now they are in a mess as well.. Go Under I say! That should put mymortgage where? Go Under CITI Group and loose all my records for me.. That would be a great thing for me I would think..

me too Sink you SOB's

[falcon]

The government is getting choice stock in each of those companies.

Yep, that "choice stock"just as useless as the toxic paper that slick US bankers spread all over the world.

[Fieldmouse]

ORIGINAL: falcon

Yep, that "choice stock"just as useless as the toxic paper that slick US bankers spread all over the world.

It maybe today but in the near future it won't be. What I'm afraid of is our government refusing to sell the stock so that they can control the loans industry hands on. We should demand they break up these large banks and dump their stocks.

[falcon]

We should demand they break up these large banks and dump their stocks.

Hooray!!!!!Something that we can agree on.