Monday, May 25, 2009
Senator: “The Government Could Buy Citicorp for a Fraction of What We've Already Obligated the Taxpayer For"
Basketball star and former U.S. Senator Bill Bradley succinctly summarized something a lot of us have previously said:
The market capitalization of Citicorp is $17 billion. So the government could buy Citicorp for a fraction of what we've already obligated the taxpayer for. And in buying Citicorp, as an example—there could be one or two others—the government would announce in four to six months that it is going to sell the good assets of the bank back to the public.