Thursday, January 17, 2008

Citigroup loss is largest in 196 year history

Chris in Paris, The quarterly losses were hideous, setting a record low for the Wall Street bank. Considering the awful state of banks (in both the US and Europe) at the moment and the recession talk, it's only a matter of time before voters start digging deeper into the economic plans offered by presidential candidates.

Krugman had an interesting article yesterday on this that's worth investigating. The leading GOP candidate has some amazing remarks that are worth noting. McCain does not sound like someone we need during these times.

Take, for example, John McCain’s admission that economics isn’t his thing. “The issue of economics is not something I’ve understood as well as I should,” he says. “I’ve got Greenspan’s book.”

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