.

A Tale of Two Bailouts: Wall Street v. Detroit

POSTED:

Does anyone else find it a little head-scratching that Citi gets a $20 billion bailout over a weekend (without any plan to guarantee that we're not going to be stuck holding a $300 billion bag if the share of the shitpile we just guaranteed doesn't turn out to be worth a damn thing.) This after a week when Congress seemed to delight in playing chicken with Detroit, denying them a $25 billion loan and raking their executives over the coals for flying corporate jets.

Sure, Citi is too big to fail. But psychically, for America, so are GM and Ford. I honestly believe that letting either of the big-two fail would instill the same kind of bunker mentality on Main Street that Lehman Brothers created for the global financial industry.

See also: Naomi Klein's RS story on the bailout, The New Trough

Prev
RS Politics Daily Main Next
Daily Newsletter

Get the latest RS news in your inbox.

Sign up to receive the Rolling Stone newsletter and special offers from RS and its
marketing partners.

X

We may use your e-mail address to send you the newsletter and offers that may interest you, on behalf of Rolling Stone and its partners. For more information please read our Privacy Policy.

 
www.expandtheroom.com