Do you think the prince would fail without the bailout? Don’t you think he would survive better than millions of Americans are right now?
He has plenty of money to prop up Citi without any taxpayer dollars. He also has a lot to say about the CEO and that he speaks to him all the time and he thought he would head the company in the right direction. So put your money where your mouth is prince. Regardless whether you think he was bailed out or not, Half of something is more than nothing. Would you rather lose all of the retirement or 45%?
Taxpayers are losing their jobs, unable to pay their health insurance premiums, medical bills, car payments, house payments and companies are closing. CITI is still there funding La Raza and who knows what else. The prince owns shares of Fox news and CNN and is wealthy beyond belief. He woud have survived much better than Americans and corporations are right now.
Of course he wouldn’t but do you actually think the government could let Citi fail ? Do you have any idea of the true financial armegedon that would have taken place ? Especially after the market went to hell in a hand basket after they let Lehman fail. Lehman was nothing compared to Citi, not to mention the fact that Citi operates as a major financial institution globally, in many countries they are the major bank through their subsidiaries. People act like the Prince owns Citi, the largest shareholders in Citi were probably the employees and asset managers, so the government bailed them out too. Citi going under would have caused the same financial meltdown as the massive withdrawls you were referring to.