Did the Citibank Bailout Screw the American Taxpayer?

News & Politics

Google Chairman and CEO Eric Schmidt, who is a member of the Obama transition economic advisory board, appeared on Rachel Maddow.  Of the Citibank bailout, he said:


SCHMIDT:   When I looked at the structure of the Citibank deal, it looks roughly correct.  And I know that both President Bush and President Elect Obama and their teams worked on getting it right.  It's got the right set of incentives, the right ownerships and the right guarantees.

Really?

Krugman:

Mark Thoma has the rundown of informed reactions. A bailout was necessary -- but this bailout is an outrage: a lousy deal for the taxpayers, no accountability for management, and just to make things perfect, quite possibly inadequate, so that Citi will be back for more.

Understand the importance of honest news ?

So do we.

The past year has been the most arduous of our lives. The Covid-19 pandemic continues to be catastrophic not only to our health - mental and physical - but also to the stability of millions of people. For all of us independent news organizations, it’s no exception.

We’ve covered everything thrown at us this past year and will continue to do so with your support. We’ve always understood the importance of calling out corruption, regardless of political affiliation.

We need your support in this difficult time. Every reader contribution, no matter the amount, makes a difference in allowing our newsroom to bring you the stories that matter, at a time when being informed is more important than ever. Invest with us.

Make a one-time contribution to Alternet All Access, or click here to become a subscriber. Thank you.

Click to donate by check.

DonateDonate by credit card
Donate by Paypal
{{ post.roar_specific_data.api_data.analytics }}
@2022 - AlterNet Media Inc. All Rights Reserved. - "Poynter" fonts provided by fontsempire.com.