Reply #37: DailyKos: Here Comes the Next Big Screw Over

[antigop]

Here is a post speculating that Rubin's new position as Chairman means they are looking for a political resolution (bailout)

http://www.dailykos.com/storyonly/2007/11/4/91929/3698

So what does this mean for Citigroup?

My interpretation:

Citigroup has decided that it's time to seek a political, rather than financial solution to problems resulting from the collapse of the housing bubble, the sub-prime mortgage meltdown and the global credit crunch.

Rubin's appointment is a sign that Citigroup knows it can't keep going without the help of the American taxpayer.

(And neither can the other big Wall St. institutions.)

So -- open up your wallets, folks!

I know that times are hard. Wages are stagnating and falling. Health care and insurance costs are going through the roof. You can't afford to pay your mortgage. You can't afford college tuition for your kids without taking on tens of thousands of dollars in loans. Your 401(k) account is empty. You can't save up anything to retire.

Doesn't matter.

Open up your wallets, because your about to bail out Citigroup.