What Citi Bailout Would Look Like If Directed To Homeowners Instead


What would the Treasury’s latest Citigroup bailout look like if it were a bailout of you, a strapped homeowner, instead of Citigroup?

Tim Geithner would buy your $100,000 house for $200,000 with your neighbours’ money.*

(Yes, you’d have paid a lot more than $200,000 for it, but still…you’d be loving Tim).

Details on Tim’s $13 billion gift to Citibank here >

*Basically what the govt did this morning was agree to buy Citigroup stock at $3.25 a share that is trading in the public market for $1.60.  Thus, it is paying 2X what the stock is worth.

If the Treasury did that for you, the homeowner, they’d be paying 2X whatever you could get for your house in today’s market.