More proof that the Bush administration is tone deaf to the American people and the US government is totally out of touch of reality.
U.S. Agrees to Rescue Struggling Citigroup
Citigroup has $306 billion in bad debt, Citigroup will take a $29 Billion loss and the US taxpayer will be on the hook for the rest. $277 billion dollars more on the back of the US taxpayers.
As stupid as this idea is, maybe this should have happened a week ago before the 52,000 employee layoffs announcement.
Citigroup layoffs trump global economic plan
How much is this going to cost the taxpayers in the long run?
The taxpayers bailout a company again due to poor decisions of the the executives after massive layoffs and the enactment of longer unemployment benefits.
The Best part of today’s announcement of the Bush administration, More bailouts to come.
Fed Pledges Top $7.4 Trillion to Ease Frozen Credit
The U.S. government is prepared to lend more than $7.4 trillion on behalf of American taxpayers, or half the value of everything produced in the nation last year, to rescue the financial system since the credit markets seized up 15 months ago.
The Bush administration is now a joke and taking America along with it.
Posted by suemdonk 
Posted by suemdonk 
