Comment

Overnight Open Thread

551
3 wood3/10/2009 4:36:11 am PDT

re: #536 Jetpilot1101

Probably, but they have cut a lot of staff.

One thing to remember about the Citigroup situation, is they did buy up a lot of bad assets at the request of the Fed’s last fall to help out when all this started. Those assets are now a large part of the problem for Citigroup now. For the Fed’s to now stand by and let Citigroup go down would mean that nobody would ever cooperate with the Fed’s again.