The buying of Citigroup (and others)

As I understand it the federal government will own about 40% of the common stock of Citigroup with the latest plan to save them.

I wanted that we continue to own the Preferred Stock instead, which meant they had to pay the government dividends as long as they had cash, but I suppose that turned out to be detrimental to the banks.

Now a 40% voting block runs any corporation generally. If the officers and board don't do what the 40% owners want, they will be looking for another job.

That my friends is nationalization by any reasonable definition!

The price we paid for the common stock and the stipulations of cashing it in are also very important. Has anyone seen those prices and stipulations?

There is NO WAY that AIG, Citigroup, or any of the others can ever repay these grants. We are talking about from 40 billion to 180 billion in taxpayer grants here.

So, what do you want:
1. continue granting as much as required to slow the depression.
2. Stop all such grants, enter a deep and long depression and let all go broke and start over again.

You wealthy guys opinion don't count here!

Just people who work for the bread every day.

Bonkers

Submitted by dollaradayandno... on Fri, 02/27/2009 - 3:28pm.

You are somewhat wrong about some things.

The banks (current ones) MUST be saved now.
Ain't no way to ask others to open a bank and take the good assets and accounts and run them---air thar?

I, personally am dusting off m y old confederate money that I inheriated. I think it will have some value soon!

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Please come home

Submitted by halfdollarandlost on Fri, 02/27/2009 - 4:48pm.

Daddy please come home, the twins 2 bits and 4 bits miss you, and little Penny cries herself to sleep every night.

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Bonker$

Submitted by Mike King on Fri, 02/27/2009 - 3:37pm.

Before you end up in the hospital after your inheriated whatever, stop talking to yourself and get back on the meds.

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$

Submitted by hutch866 on Fri, 02/27/2009 - 3:33pm.

What is inheriated? Is it like inebriated?

I yam what I yam....Popeye

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