Okay so everyone, including me, has been ooo-ing and awww-ing and shaking their head at the Citibank/group situation ....
MSNBC had the following:
$150BILLION Federal Money recieved
$ 30BILLION Additional Federal Loans wanted
80% Gov. Stake in AIG
Okay now look at your 401K statement -- my guess is that you have a stake in AIG ... well you can kiss that share of your retirement gone. Once the government goes in, the investors (which you are) lose their shares - they get NOTHING.
BUT the one thing this does show is that -- we would have been okay if the other nations hadn't tumbled as well. AND THAT has been the truth of every economic slump in history.
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