I'm feeling a little bit like Lewis Black this morning. As I read about the government rescue of Citigroup, I feel the hairs on the back of my neck tingling. It's injecting $20 billion into Citigroup, after already giving it $25 billion, which resulted in an ownership stake.
But that's not what really bothers me. What I find disturbing is the fact the government has already disbursed $507 million to banks and, as taypayers, we have no right to know which banks received the funds or what they did with the money.
The government's reasoning is if we knew, we might withdraw our money from those banks and besides, the government knows better than we do what to do with our money.
I had hoped I was interpreting this incorrectly, but it appears I am not. What do you think about the bailout program and how it's being handled?
Photo: Big Stock Photo
The Short Sale, by Elizabeth Weintraub, coming from Archer Ellison in January 2009.
---
Certified HAFA Specialist
My Sacramento Real Estate Listings
Elizabeth Weintraub is an author, home buying columnist for The New York Times-owned About.com, a Land Park resident, and a Land Park real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown and East Sacramento. Weintraub is also a Sacramento Short Sale agent who lists and successfully sells short sales throughout the four-county Sacramento area. Call Elizabeth Weintraub at 916.233.6759. Put 35 years of real estate experience to work for you. Broker-Associate at Lyon Real Estate. DRE License # 00697006.
The Short Sale Savior, by Elizabeth Weintraub, available at Amazon.com.
Lyon Real Estate is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.
Photo: Unless otherwise noted in this blog, the photo is copyrighted by Big Stock Photo and used with permission.
The views expressed herein are Weintraub's personal views and do not reflect the views of Lyon Real Estate.
Disclaimer: If this post contains a listing, information is deemed reliable as of the date it was written. After that date, the listing may be sold, listed by another brokerage, canceled, pending or taken temporarily off the market, and the price could change without notice. It could blow up, explode or vanish. To find out the present status of any listing, please go to elizabethweintraub.com.
