>>>>>http://articles.moneycentral.msn.com/Investing/Dispatch/market-dispatches-092908.aspx
>>>>>
>>>>>Bought by Citi
>>>>>
>>>>>Pretty soon there will be just one bank, the bank of Ban & Hank....
>>>>
>>>>Still not a disaster. One bank buys another one.
>>>
>>>They can afford to buy each other. When they fail, the taxpayers will foot the bill.
>>
>>Exactly. The acquirer does not care anymore what is on books. It means that failed practices will persist indefinitely or even be enshrined in laws.
>
>Yep. the green light has been given.

We knew about this for some time. I suspect the buy-out was approved to prevent another huge cost to the government. Interesting that no one is concerned with the ownership of CitiBank and its history of illegal activity (including taking money from its customers' accounts) and its recent losses...