Last night, the US government rushed to rescue Citigroup and agreed to put billions of dollars into the stricken bank and to plow a whopping $20 billion into it.
Again, Citigroup is “too big” to fail, just like that AIG is “too big” to fail, BoA and lots of other banks, too. And despite the posturing in Congress right now, we can bet the “Big 3” automakers are too big to fail, too. They are going to get a voucher of $30, $60 or even $100 billion soon. In total, about a trillion tax dollars will probably end up in smoke.
However, the government does not even give a damn about our personal investment losses. The meltdown of the markets wiped off our hard-earned money. Who will bail us out? Mr. Obama, do you listen to us?