IndiaSphere

So… how bad can the financial crisis get? I thought the collapse of General Motors, at one point the world’s largest car company, was as bad as it could get. I mean jeezus, about 2 million people will be affected almost directly if that goes under. But now the talk is of Citibank also going under.
Citibank? At one point the world’s biggest financial company, the damn company’s stock is in meltdown. There is now talk that the US govt might buy a chunk of the company, based on what is already happening to the Swiss giant UBS. Jesus! Via Crooked Timber, I also learn that one hedge fund manager thinks most big US financial companies will be nationalised within a year – that is how bad the crisis is going to get. It’s like a socialist wet dream. Oh and Michael ... [Follow Original Article link for full content.]