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Politics : Formerly About Advanced Micro Devices
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To: tejek who wrote (545473)1/22/2010 12:45:50 PM
From: TimF  Read Replies (1) of 1574982
 
Citibank wasn't "the bank in the worst shape". It might have been the bank with greatest mismatch between assets and liabilities, since its a very big bank, but a number of other banks where in worse shape.

And the bailout isn't just about banks. We aren't going to get the money back (certainly not after discounting the time value if by some miracle they pay us back a very long time in the future) from Fannie, Freddie, and AIG. Those where three of the biggest bailouts. We likely won't get the money back from GM.

$54 bil isn't much of a reserve against all that bailout money. It isn't enough to cover all the money that we already know won't be paid back, let alone all of the money given to other companies that we don't yet know won't return to health.
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