CitiGroup bailout bad for Tax payers
CitiGroup bailout BAD BUSINESS
By Gerald: Internet Anthropologist Think Tank
Nov. 24, 2008
The Citigroup Bail out provides a 8% return to the American Taxpayer.
Based on Citigroup own best practices, and a reward commensurate with the risk
The return to American Taxpayers should be 33%.
Americans are loaning money to a in effect bankrupt company, poor credit risks.
And like banks do with Credit Card interest rates, this type of loan
( the highest risk, a bankrupt company ) should be receiving the highest rewards.
The rate established by the banks for the highest risk loans 33%.
Once again banking Lobbyist have cut a "sweetheart" deal counter to
American taxpayers best interest, huge loans to bankrupt companies
very high risk, but not the highest returns.
Banking industry has established a rate of 33% for these type of loans
and that logic MUST be applied to the banking industry.
All the bailouts MUST pay taxpayers 33% rate of return.
Same as banks collect from American poor credit risks.
Any rates of return of less than 33% should be investigated by Congress.
Good for the Goose, Good for the Gander.
American TaX Payer is being ROBBED at 8%,
33% is fair by Banking standards for poor credit risks,
read your credit card agreement. apply these terms to the bailout.
Series 7 & 13
American Tax payer screwed on loans from banks, and tax payer loans t0 Banks.
Screwed both ways.
Don't let them get away with this.