It's NOT the economy, folks -- it's capitalism ......

[defendandprotect]

Citi's woes reflect depth of crisis

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Digg Facebook Newsvine del.icio.us Reddit StumbleUpon Technorati Yahoo! Bookmarks Print By Mark Trumbull Mark Trumbull – Mon Nov 24, 3:00 am ET Play Video ABC News – Citigroup Gets a Financial Lifeline
Play Video Video: Economic Crisis's Human Side ABC News AFP/File – A man at a Citibank branch at the US bank Citigroup world headquarters in New York on November 17, 2008. … The travails of Citigroup point to a challenge that goes beyond the survival of one of the world's largest banks: Government actions have so far failed to contain the problems shaking the financial industry.

Barely three weeks ago, Citi was one of a handful of banks to receive big infusions of capital from the US Treasury – a move designed to bolster market confidence.

But since then, as of Friday's market close, the bank has lost about 70 percent of its stock market value. And it isn't Citi alone that's faltering. The stock value of America's financial sector as a whole fell by nearly 40 percent in that time.



http://news.yahoo.com/s/csm/20081124/ts_csm/aciti

[Demeter]

1. It's Not Capitalism, Either. It's Piracy

Bunch of cronies ripping off the populace.

[defendandprotect]

2. Capitalism is organized crime ...

[defendandprotect]

3. kick

[leftofthedial]

4. capitalism is theft

institutionalized and ritualized, but theft.

In all but the rarest cases, which ARE criminalized for the most part, it is the wealthy stealing from everyone else.

It's a pyramid scheme that relies completely on some exploitable "free" resource(s) at the bottom.

The "free" resources have run out and they've been unable to reinstitute slavery fast enough to keep the rest of the pyramid from cracking. That's why they are so desperate to destroy unions and move to countries with virtual slave labor.

[unkachuck]

5. K&R....for a new economic system....a new Socialist Market Economy.....n/t