Yet another bailout

This time, Citigroup will be the recipient of billlions in federal bailout dollars. The total number of dollars pledged so far to help “struggling” industries? Bloomberg calculates somewhere in the neighborhood of $7.4 trillion. Will TV networks be next?

Heck, while we’re on the subject, where the hell’s my bailout? I’m sure as heck not the only taxpayer who’ll probably need one once the various “rescue plans” have been implemented.

4 Responses to "Yet another bailout"

Lorica says:

November 24, 2008 at 12:54 pm

I agree Dear. Why not just call a Debt Holiday?? Every debt everyone has is now cancelled. Seems like a good plan to me. – Lorica
Steve Skubinna says:

November 24, 2008 at 2:41 pm

You just wait in line, Missy! There’s plenty of more deserving folks like the New York Times. So you sit tight, and reflect, and know that eventually you too shall be deserving of the government’s love.
Bob Leibowitz says:

November 24, 2008 at 6:18 pm

Unfortunately, it gets worse.

Citigroup tried to slide this under the table a month ago, in its aborted takeover of Wachovia. The federal guarantee involved in that transaction, which you’ll recall was not required with Wells, Fargo as the purchaser, was actually intended to support Citi’s toxic loans. More here Needed: A Few Good Hangings
Chick says:

November 24, 2008 at 8:19 pm

Mmm … let’s see. Approximately 138M taxpayers (Wikipedia number) and 7.4T in taxpayer-sponsored relief.

That’s………..7,400,000,000,000
divided by…………….138,000,000

If my math is correct, that’s approximately $53,623 per taxpayer. And that is assuming that every tax payer is paying his/her share equally … and that the bailouts are over.

Compare this one-time taxpayer-sponsored payout to the average yearly salary of the average US worker.

That’s simply frightening.

This ain’t over by a long-shot. Hunker down, folks. And stock up.

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