WSJ on Citi Rescue
November 23rd, 2008 10:56 pm | by John Jansen |Perusing the world wide web, the Wall Street Journal seems to have the best insights on the Citi rescue.
I would suspect that something will be announced before the stock market opens tomorrow morning.
If the situation continues to fester, it will ignite more volatility and probably make already hesitant lenders even less willing to take counterparty risk.
There is a line in the story that regulators are looking to reestablish shattered confidence. I am not sure how the realization that one of the largest financial firms ever to grace the earth is a cripple and only survives with government aid is soothing.
One Response to “WSJ on Citi Rescue”
By jomiku on Nov 24, 2008 | Reply
This ad hoc scrabbling around is killing any plan. First it’s buy assets, then it’s capitalize and, oh btw, we won’t buy assets so we kill those values and undo the capitalizing and then we’ll come up with a unique plan for each company that has problems. Those aren’t approaches. Those are guesses by people in over their heads.