"Tom Francis - SWSports" wrote in
message ...

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.



Listening a little more carefully this morning, it appears the new $20B is
coming straight from the Treasury, via FDIC. This is in addition to $25B
that had already been bailed via TARP.

I don't profess to understand any of this. It's way over my head. But, I
have a funny feeling that those in charge of the taxpayer's money don't
understand it either and are in way over their heads.

Congress demanded transparency and oversight of the issuance of these funds.
The official oversight person has still not been appointed. Why isn't
Congress oversighting? I know why.
"Didn't happen on my watch", "not our job".

Merry Christmas and Happy Holidays. Ho, Ho, Ho.

Eisboch