"Citigroup on the Dole"

John Cole:

So now we are bailing out Citigroup:

Federal regulators approved a radical plan to stabilize Citigroup in an arrangement in which the government could soak up billions of dollars in losses at the struggling bank, the government announced late Sunday night.

So now the jackasses who extend credit to people who should not have it, charge 29 percent interest rates, intentionally process payments late so they can charge late fees and over-limit fees and who spent all their time and energy lobbying to change the bankruptcy laws several years ago are sucking at the public teat.

Can’t tell you how awesome that is. These guys get money from us, there should be some changes to their shitty business practices. Feingold, Sanders, anyone? You out there? Go get it done.