[lbo-talk] Alas, poor Citibank!

Doug Henwood dhenwood at panix.com
Tue Nov 6 11:55:54 PST 2007


On Nov 6, 2007, at 1:21 PM, Carl Remick wrote:


> Citi and Merrill Lynch as the epicenter of perhaps the greatest
> capital crisis the US has ever seen

Oh please. Do you realize how many competitors there are for such a title? You have any idea what kind of speculative crap the USA pumped out in the last 30 years of the 19th century? In the 1920s? How different is this from the junk bonds and S&Ls of the 1980s? Securities fraud and financial crises are even more American than tarte aux pommes.

Doug



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