On Mon, 24 Nov 2008 03:50:38 -0500, "Eisboch"
wrote:

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.

I agree with this in concept, but the problem is that Citigroup, your
one stop banking center, is, in fact and without qualification, too
big to fail. The interesting thing is that it's only 20 billion out
of the TARP for capital injection - the key is backing the 350 billion
in "toxic" assets - which is what the Feds should have done in the
first place.

Tossing billions of dollars to any company that comes along and cries for
help isn't the solution.

Well, if you want to assign blame, look no further than Robert Rubin
and Dick Parsons both high on the Obama economic team. They were
largely responsible for Sandy Wiel and Chuck Prince taking on all the
risk and making Citi much too big. Vikram Pandit was a victim of this,
not the perp.

As a side note, I find it really interesting that most of Obama's team
is/are recycled Clinton administration players.