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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (545578)	1/22/2010 12:52:59 PM
From: tejek	Read Replies (1) \| Respond to of 1574905

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. I am sorry, Tim, but some things are just facts. Citibank was the worst bank in terms of its financial condition {that did not go under.] 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. Why not? Everyone is praising GM over its current crop of cars. The new CEO has been very pro active in terms of cost cutting and innovation. The only one that worries me is AIG but if its stock is any indication, it looks to have stabilized at this point. $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. It was profit for one year. There will be more profits going forward.