Just read the announcement of the additional government bailout of Citigroup
out of the TARP money.

Is it just me, or is this whole thing getting totally out of control?

I get a kick out of the wording of the statement. Quoting a couple of
parts:

"With these transactions, the U.S. government is taking the actions
necessary to strengthen the financial system and protect U.S. taxpayers and
the U.S. economy," the three agencies said in a statement issued late Sunday
night. "We will continue to use all of our resources to preserve the
strength of our banking institutions, and promote the process of repair and
recovery and to manage risks."

Isn't it taxpayer's resources being used? What's this "our resources"
stuff?

Then, the Citi's chief executive officer, Vikram Pandit says, "We
appreciate the tremendous effort by the government to assure market
stability."

Shouldn't he be thanking the American taxpayers?



Congress should reconvene immediately and put a halt to the TARP program.
The banana heads running it are loose cannons, operating on their own and
should be fired.
IMO, there is an overreaction taking place, led by a bunch of ex-wall street
suits that have a very narrow view factor of the overall problem. Calmer
heads should take over. Let things settle a bit.
Tossing billions of dollars to any company that comes along and cries for
help isn't the solution.

Eisboch (frustrated American taxpayer)