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Default Out of Control

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

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?


Trust me on this, you really don't want Citi to fail. It would set
off a tidal wave of additional failures that would overwhelm the FDIC
and bring world trade to a halt. Excluding the sub-prime nonsense,
their basic business model is quite sound.

 
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