Failout

24Nov08

“You’re seeing an inept management team being rewarded by the U.S. government,” said William Smith, chief executive of Smith Asset Management in New York, which owns Citigroup stock. That’s the reaction of one investor to the new government bailout of Citibank. How does the government, where the status quo is sustained indefinitely no matter how […]

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Tags: $306, bailout, citi, failout, fdic, rubin, wachovia