Bob’s take on

Well–we taxpayers are now part owners of CITIGROUP.  Most of the reports were that we gave them another $20 BILLION today  —what wasn’t mentioned is that we taxpayers also (did something we have not done for other banks) guaranteed over $300 BILLION of TOXIC LOANS.

One article today says that the Government has now pledged in bailouts and guarantees—about 7.7 TRILLION since this mess started==or $14,000 for every man, woman and child in the US.

The scary part is that this shows that we are just “throwing spaghetti on the wall” to see what sticks. So far, there is no one out there that has a clue on what to do.

Two more banks failed over the weekend–but still well below 100 for the year—no where near the 10,000 that failed during the depression(with FDIC in those days).

http://www.bloomberg.com/apps/news?pid=20601087&sid=arqqycIZzpZg&refer=home

The OBAMA EFFECT was supposed to kick in on Jan 20th because we would all be so happy again—but then, unexpectedly, he announced today that we could lose millions of jobs.  Maybe he will not make us instantly happy  === that is a scary thought.