"Eisboch" wrote in message
...


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)


You got that right. It used to be the norm here...this province wasted
billions on an aging steel plant and worked out coal mines until we almost
went bankrupt.