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It's worth pointing out that the market already put Citi out of business, but government stepped in and rewarded them for fraud and interfered with the market.
by dreamdu5t 14y ago
It's worth pointing out that the market already put Citi out of business, but government stepped in and rewarded them for fraud and interfered with the market. Citigroup was insolvent in November 2008, even after receiving $25 billion in federal TARP funds.
I find it puzzling that you support more government involvement despite government directly funding a company you consider fraudulent.
- roguecoder 14y agoBecause I want a continually functioning economy more than I want to punish Citi? Systematic risk is real, and should be managed on a system-wide level. In my ideal fantasy world, it is managed with some version of chaos monkey that randomly kills companies to see if the economy crashes ;-)