Bailing Building and Loan
Now CitiCorp or, CitiGroup, or whatever it’s called, gets a massive bailout in the blink of an eye. Why them and not the auto industry? As I’ve said, I think GM, Ford and Chrysler had decades of warning, but at least they manufacture something. All this money being borrowed by the feds that will eventually have to be paid back with higher taxes, and yet the credit market is still frozen.
Why, after all of this, is the whole concept of the global economy not being questioned more? Sure doesn’t seem to have been a very good idea, after all. I just watched a segment on The News Hour about the situation in England, and since September it seems to be suffering more of a short, sharp shock than what we have in America.
9 comments November 24th, 2008