austindefender

Criminal defense in Austin Texas.

More Welfare For Bankers

| February 27, 2009

“In its most daring bid yet,” says the NYT, the government will “vastly increase” its ownership stake in Citigroup. “After two multibillion-dollar lifelines failed to shore up Citigroup, the government will increase its stake to 36 percent from 8 percent.” “Under the deal, the Treasury Department agreed to convert up to $25 billion of its […]

Citi Rapes Taxpayers; Nobody Seems to Mind

| February 27, 2009

In the continuing saga of America’s biggest too-big-to-fail Fail Boat – Citibank – it appears the US is about to give up the only value it’s gotten out of the billions it’s shipped to Citi so far – the “preferred” part of the preferred shares it got a few months ago. The plan is to […]