How in the hell did Citgroup buy out WaMu, and now they're being bailed out?

[JudyJudyJudy]

http://www.msnbc.msn.com/id/27877195

[Debs_Cage]

JP Morgan Chase bought Wamu not Citigroup.

[peytonsmommie]

Yes Chase bought WaMu, not Citigroup.

[HummingBird]

Citigroup wanted to buy out Wachovia but lost out to Wells Fargo which is still an on-going battle according to our local news.

[JudyJudyJudy]

Citigroup wanted to buy out Wachovia but lost out to Wells Fargo which is still an on-going battle according to our local news.
That's what it was. Why should there even still be a battle? They've already taken hand-outs in the bailouts, and now they have their hands out again. Why should they ever have been considered to buy WaMu? This really makes me sick.

[MrsGinCamarillo]

The whole bailout makes me ill. Citi purchased our mortgage a few years back. I wonder what will happen when they go down?

[JudyJudyJudy]

MCG, apparently they won't go down. They'll be bailed out. Of course, if you missed a few payments, I feel quite sure they wouldn't be so nice about it.

[MrsGinCamarillo]

We have never been late. They purchased it from the original company. The whole thing makes me angry.

[Justicedog]

What makes me angry is that I've never filed bankruptcy, I've never failed to pay back a loan, I've never bought more than I can afford, I've never taken credit I wasn't able to pay back, yet I'm going to be paying for all those who did.

This is happening because of the people who are not personally responsible and because banks encourage that irresponsibility. The American taxpayer should not have to support either of those groups of people.

For younger credit card holders, I'm for a mandatory consumer credit class in order to get credit. This should be done in every junior high and again in every high school. It should be a requirement of graduation.

I'm for not allowing consumers who file bankruptcy get a nonsecured credit card for a number of years after that bankruptcy.

I'm for fining banks for every "pre-approved credit application" they send to someone who has just been discharged in bankruptcy, preferably from the president and vice president's salaries.

I'm for auctioning off all the box seats these banks own at sporting events until their debts are paid back to the government/tax payers.

Had you voted for me, that's what I'd have been proposing. I already have a dog, so I wouldn't be spending any time trying to decide on which one to get and dealing with foreign offers to give me one.

[paper_]

For younger credit card holders, I'm for a mandatory consumer credit class in order to get credit. This should be done in every junior high and again in every high school. It should be a requirement of graduation.

I'm for not allowing consumers who file bankruptcy get a nonsecured credit card for a number of years after that bankruptcy.

I'm for fining banks for every "pre-approved credit application" they send to someone who has just been discharged in bankruptcy, preferably from the president and vice president's salaries.

I'm for auctioning off all the box seats these banks own at sporting events until their debts are paid back to the government/tax payers.


You do realize that between the two realistic parties for power, the Democratic party would be more likely to to implement these requirements, as they are generally more in favor of regulation.

Personally, I think that credit cards should be MUCH more regulated. The interest rates they charge are ridiculous. I do NOT keep one with an interest rate of over 10%, and I haven't had a balance on one in several years. The banks are literally making slaves out of a large proportion of low and middle class people.

[JudyJudyJudy]

You do realize that between the two realistic parties for power, the Democratic party would be more likely to to implement these requirements, as thery are generally more in favor of regulation.

Personally, I think that credit cards should be MUCH more regulated. The interest rates they charge are ridiculous. I do NOT keep one with an interest rate of over 10%, and I haven't had a balance on one in several years. The banks are literally making slaves out of a large proportion of low and middle class people.
I totally agree.