Hi All,
I just saw this posting. Evidently some bloggers are speculating that the reason Bush is asking for the second half of the 700 billion bailout is…get this – to shore up Citigroup’s financial situation before the Obama administration can get involved. The implication is that George W. wants the money for Citi before Obama’s crew can slap a lot of restrictions on corporate welfare.
The reason Obama is going along with Bush is his staff thinks it makes more sense to take office with congress on the new administrations side, rather than engender ill will with a fight before he takes power.
Click here for the goods at the Naked Capitalist.
My take: I just wish these guys would get out of the way and let free markets do their work.
Best,
James
