Citigroup bailout is an outrage!

http://www.thestreet.com/story/10449706/1/todays-outrage-citis-not-worth-45-billion.html

"Now Citi's the latest bailout story, with the U.S. government donating $20 billion to the cause. That's on top of the $25 billion in taxpayer funds Citi received last month.
So why doesn't the government own all of Citi now? For $45 billion, it should -- the bank was only worth about $20 billion at Friday's closing share price of $3.77. (For what it's worth, Wachovia's trading above $4.) "

Yup... even at the price of $6, citi is still worth less than $45 billion.

GEEZ. The American government is psychotic. GM is set to be next.

The GM bailout is looking like it's going to be using 10 billion to bailout a company worth 2 billion.

Yeah, they're talking about potential earnings, and damage, and blah blah blah.

Imagine if your rich, fat, lazy, neighbour got a loan for RM50 million from the government, at 5% interest. Your neighbours job? He's the kampung moneylender. Oh, and BTW, his enforcers just came by your house yesterday to inform you that you now have 1 month to pay back your loans (at 25% annual interest)

Yeah, no wonder Americans are really angry with the rubbish going on there right now.