Government plans massive Citigroup rescue effort

WASHINGTON (AP) - Rushing to rescue Citigroup, the government agreed to shoulder hundreds of billions of dollars in possible losses at the stricken bank and to plow a fresh $20 billion into the company.

Regulators hope the dramatic action will bolster badly shaken confidence in the once-mighty banking giant as well as the nation’s financial system, a goal that so far has been elusive despite a flurry of government interventions to battle the worst global crisis since the 1930s.

Wall Street investors reacted enthusiastically. The Dow Jones industrials shot up about 300 points in morning trading. Stock markets in Britain and Germany also gained ground. Citigroup shares themselves climbed 61.3 percent to $6.08 in morning trading.

“If they didn’t help, the damage would be beyond imagination,” said Teck-Kin Suan, economist at United Overseas Bank in Singapore.

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Government plans massive Citigroup rescue effort

I have tried, for over 6 years, to tell people that George W. Bush is an IDIOT, he is a One World Government supporter. His father and grand father were huge supporters of One World Government, they could not get it done, but somehow, the moronic scion of these destroyers of America did manage to get it done.

When I tried to warn people about the dangers of George W. Bush I was called un-American. I was called a *libber in disguise*. I was called names by some Republican and so-called Conservative bloggers that sounded like the rants of a 6 year old on the play ground.

I give up, Bush and his policies have all but bankrupted this entire nation, but take heart, he has almost 2 months left in office, he may actually succeed in finishing us off yet, or, at the very least, Bush will have it set up perfectly for Obama to deliver the coupe de’ grace.

All of the *Bush Bots*, all of the people that blindly followed along just because they wanted to seem *patriotic*, all of you, you were warned, repeatedly. The apathy of America has empowered Bush in doing this dastardly deed. The blind trust that so many gave Bush has allowed this to happen. The trust that so-called Republicans had in the RNC, coupled with a serious breakdown in conservatism, gave the last election to Barack Obama.

The RNC foisted John McCain off on us. Many said he was going to be a continuation of the Bush administration, and I believe that he would have been all that, and worse! America has brought this upon itself, the American people have fallen for the witless politicos and took the bait, hook, line and sinker.

I have NEVER blogged to be *popular*, I blog to tell MY side of this thing, to opine on MY perception of life in America. My style tends to piss off a few people, but some folks really love it. I take NO prisoners, I leave no misunderstanding as to exactly where I stand on issues. I call it the way I see it and don’t care WHO likes it or not.

I HATE Socialists, I have 2 Socialist U.S. Senators, Cornyn and Hutchison. I have dropped any and ALL support for them and will actively work to keep them BOTH from being reelected any time they come up for it. Bush is a SOCIALIST! John McCain is a SOCIALIST! Barack Obama is a SOCIALIST! I think you can see where I am going with this. I will NOT support, in ANY way, a SOCIALIST government in the U.S.A. or any that ARE Socialists.

That said, George W. Bush has given this nation, and it’s financial markets, over to pure Socialism, the Wall Street bailout, the Detroit bailout, now this Citigroup bailout. Obama will continue to drag our nation down even further. I hope those of you that supported Bush and Obama, and yes, even McCain, in this SOCIALIST revolution are pleased with yourselves. I hope that settling for the *lesser of the evils* and not DEMANDING better leadership gives you a warm and fuzzy feeling, because that feeling is about all you’re going to have left very soon!