There has been a lot in recent weeks that I have not written about but today there is something that really irked me.
Read this morning that the US Treasury is infusing $20billion to Citigroup. This is on top of $25billion that the government has already given to Citigroup. So Citigroup has received $45billion worth of welfare from the US taxpayer. Read the 1st line of the article above and you will see what is even worse is that we the people have insured $300billion worth of Citigroups assets.
What really, really makes me mad is that Citigroup got this additional money after they announced last week that they would cut 52,000 jobs.
Thats right, after Citigroup announced that they would fire 52,000 people, the Treasury Department decided to reward them with $20billion.
This disgusts me.
Where is the congressional hearing and oversight?
Where is the Citigroup CEO to rake over the coals the way Congress did to the Big 3 automakers last week?
I implore Harry Reid, Nancy Pelosi, Barney Frank and Chris Dodd who told us that the 'Bailout' had 'oversight' in it, to do their job and excercise some damn oversight.
The double standard in our country right now really worries me. The Big 3 Automakers employ a lot more people directly and indirectly than Citigroup does.
But we have limited outrage that when looking at the number the Big 3 have asked for 55% of what Citigroup alone has received thus far in the last 8 weeks. They flew into Washington on Friday and left with $20billion.
Must be nice.