Sunday, November 23, 2008

HERE'S THE REAL PROBLEM...

(h/t Calculated Risk)

The MOTU get to keep their money and their jobs. This won't do anything to change the culure of corruption on Wall Street and that's what's really needed NOW.

U.S. Agrees to Citigroup Bailout
Billions in Toxic Assets May Be Removed; New Phase for Government Bank Rescue
By DAVID ENRICH, CARRICK MOLLENKAMP, MATTHIAS RIEKER, DAMIAN PALETTA and JON HILSENRATH
Wall Street Journal
NOVEMBER 24, 2008

The government is not expected to require any management changes, as that was seen as potentially being too destabilizing.

No comments: