citigroup

Somewhere in the bowels of the archives here I think I've posted something else by Nick Turse when he first put this book out.

In any case, the excerpts are a shocking glimpse into where our tax dollars go and an ugly testament to what our priorities in this country really are....

On Wednesday, Terra Firma chief Guy Hands released his quarterly letter to investors. He wrote about EMI's difficulties and the current credit climate.

The number of deals that governments globally are working with private companies to take control of and profits from public infrastructure has tripled from last year to this year.

The Telegraph reported today that Terra Firma has bought itself a bit of time with Citigroup. EMI reportedly now has an extra three months to reach certain financial targets. (To what degree these goals are tied to Citigroup financing is a bit unclear.

Citigroup has canceled plans to sell its EMI debt. The bank had lent about $4.9 billion to finance Terra Firma's acquisition of EMI and was planning to sell the debt to third parties. Risky debt is hardly popular these days. Citigroup will keep EMI's debt and sell off $12 billion of loans to the buyout firms.

More failed CEO’s made huge amounts of money. This time, 3 CEO’s in the mortgage industry were paid ridiculous amounts of money as the companies they led were flushed down the toilet.

 Three chief executives with ties to the mortgage crisis were paid $460 million over five years, according to a congressional report issued Thursday.

This was one of the main reasons Kimberly and I severed our relationship with Bank of America (oxymoron), a company can sometime get just too big and out of touch with its customer's interest and satisfaction.