Monday, November 24, 2008

Citigroup Bailout? Is Anybody Tallying These Bailouts?

Now it looks like they are propping up Citigroup. For God's sakes is there any end to this? Can somebody produce a report of how much money has been allotted, to whom, how much has been spent, and how the hell much debt it causes? To what good? This is madness!

Are we in the trillions? WHAT DOES THIS MEAN?

UPDATE: How does $7.4 trillion sound?

Related: Schiff: Bailouts Won't Work

UPDATE II: This is getting beyond absurd. Citigroup has not cancelled the $400 million they are going to pay the New York Mets to put their name on the new stadium.

Citi isn't alone: Imploding insurance giant AIG is paying the British soccer team Manchester United $125 million for the privilege of having its logo appear on Man U's uniforms. That, despite the fact the firm is standing largely thanks to a $150 billion lifeline from the U.S. Treasury.

"A friend of mine joked they should put 'US Treasury' on the front of their uniforms," said Steve Ellis of Taxpayers for Common Sense, a Washington, D.C.-based nonpartisan watchdog group which is outraged by the expenditures.

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