Ain’t No Love In the Heart of the Citi

Ain’t No Love In the Heart of the Citi

Ain’t No Love In the Heart of the Citi

Copy Link
Facebook
X (Twitter)
Bluesky
Pocket
Email

Lots of bailout news today, which is never a very good sign. Mark Thoma rounds up the opinions on it here and I’m still digesting, but my sense is that, as Krugman says it’s “a lousy deal for the taxpayers, no accountability for management, and just to make things perfect, quite possibly inadequate, so that Citi will be back for more.” Atrios in his inimitable way calls it simply a “sh*t sandwich.”

It’s really remarkable the way everything is coming together. While Citi goes to the government hat in hand, we have a long “Reckoning” article in the Times about how Citi got to where it is, pinning at least some of the blame on one Bob Rubin, who pushed to take on more risk and more leverage in pursuit of higher profits. And then we have this article about how — surprise! — most, if not all of Barack Obama’s economic team are Rubin acolytes.

You got to tip your hat to Rubin. The guy’s like the Ahmed Chalabi of economic policy.

Support independent journalism that does not fall in line

Even before February 28, the reasons for Donald Trump’s imploding approval rating were abundantly clear: untrammeled corruption and personal enrichment to the tune of billions of dollars during an affordability crisis, a foreign policy guided only by his own derelict sense of morality, and the deployment of a murderous campaign of occupation, detention, and deportation on American streets. 

Now an undeclared, unauthorized, unpopular, and unconstitutional war of aggression against Iran has spread like wildfire through the region and into Europe. A new “forever war”—with an ever-increasing likelihood of American troops on the ground—may very well be upon us.  

As we’ve seen over and over, this administration uses lies, misdirection, and attempts to flood the zone to justify its abuses of power at home and abroad. Just as Trump, Marco Rubio, and Pete Hegseth offer erratic and contradictory rationales for the attacks on Iran, the administration is also spreading the lie that the upcoming midterm elections are under threat from noncitizens on voter rolls. When these lies go unchecked, they become the basis for further authoritarian encroachment and war. 

In these dark times, independent journalism is uniquely able to uncover the falsehoods that threaten our republic—and civilians around the world—and shine a bright light on the truth. 

The Nation’s experienced team of writers, editors, and fact-checkers understands the scale of what we’re up against and the urgency with which we have to act. That’s why we’re publishing critical reporting and analysis of the war on Iran, ICE violence at home, new forms of voter suppression emerging in the courts, and much more. 

But this journalism is possible only with your support.

This March, The Nation needs to raise $50,000 to ensure that we have the resources for reporting and analysis that sets the record straight and empowers people of conscience to organize. Will you donate today?

Ad Policy
x