Now for the latest OLDS. Again today the government announced it was bailing out yet another 'troubled financial institution". This time it's Citicorp. Already the recipient of more than 25 BILLION dollars in direct, no-strings-attached government money, this once apparently robust, seemingly invincible mega-corporation, is going to get more than $20 BILLION in direct hand-outs yet again. However, they are also going to get a federal guaranteed backup of more than $300 BILLION to prop up their failed loans. That's good olds for the stumbling, avaricious financial giant who's credit card lending practices include routinely charging their "customers" more than 25% interest on hundreds of thousands of accounts. I guess it’s just another corporation that’s “too big to fail”!
Do you ever wonder where the money went? I do, but I guess Henry Paulsen and his cohorts don't. While we're in such a good mood and thinking about our vacation homes in the Bahamas, let’s all hold hands and skip down the yellow brick road toward national socialism --- which used to be called fascism. BTW: a belated Happy Halloween! Unless you're Citicorp; then you'll want to shout Happy Thanksgiving! And don't forget to pick up the new Lexus......
Stay tuned for the latest OLDS. Until next time, remember: there’s always a next time.
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