Wednesday, December 8, 2010

That's Great...But Citi Still Sucks It!

Citigroup Stake Is Sold for About $10.5 Billion as U.S. Unwinds Investment

Citigroup Shares Rise After Bank Escapes U.S. Fetters

Glad to hear that the United States government - which bailed out Citigroup to prevent their collapse, thanks in no small part to their own ill-conceived policies - has divested its interests. None of this will benefit the American taxpayers though, whose money it was that bailed them out, or turn the economy around in their favor. Think Citi will treat its account holders better, like lowering their illegally raised interest rates or dismissing suits brought against those refusing to bow down to their strong-arm tactics? Doubtful. Which is why Citi still sucks it.

A Second Thought On TARP's Bottom Line

BofA, Citibank Often Tapped Fed Auctions During Crisis

©2010 Steve Sagarra

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