18 Apr 2008
Citigroup reports $5.1 billion loss on hefty write-downs

Ouch! I wonder how much cash of my money (from my recently filed taxes) is going to be used to bail these idiots out of their mess?

AP - Citigroup Inc. lost $5.1 billion during the first quarter as poor bets on mortgages and leveraged loans lopped billions of dollars from its investment portfolio.


(link) [Yahoo! News: Top Stories]

08:06 /Politics | 0 comments | permanent link

Lawmakers take aim at credit card industry

Quick! Grab your wallet, Congress is going to "reform" another industry.

Betcha that the cure will be far worse than the disease. It always is with government involved...

A pair of Democratic lawmakers today urged Congress to pass legislation aimed at remedying what they view as questionable practices of the credit card industry that keep consumers mired in debt. Sens. Carl Levin and Ron Wyden called for action as Americans face rising unemployment and a sluggish economy, CNNMoney.com reports.

(link) [CNN.com]

07:12 /Politics | 0 comments | permanent link