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Citigroup was insolvent. They didn't survive in the market. It was the government that continued their existence.
by dreamdu5t 14y ago
Citigroup was insolvent. They didn't survive in the market. It was the government that continued their existence.
- intended 14y agoThis is completely without context. I mean I hate to be defending the govt. but at the time, they basically were told, "give us cash or the world burns." This by the same guys who helped slowly get all the checks and balances to prevent precisely their behavior, removed. It was the government that continued the existence of a terrible system because the most vulnerable were held hostage by the financial institutions. Which are now once again slowly fighting to get their rules re instated.