My Mommy Told me to be a Banker

The CitiBank $306 billion rescue is about as über alles as you can get....Rewarding the pricks who made billions in high risk bad loans that went south results in socialism. Capitalism has committed hari kari. Here with copius notes.....

Where is the "Protection" for the taxpayers? Where are the clawbacks? How about going after the idiots that bought a third of a trillion dollars worth of junk, and then got paid large on it? Where is the sense of outrage and justice?

At what point do taxpayers demand that the people responsible for creating this mess must pay their pound of flesh?

Answer: Never And now the stopped clock who was right at least once per day. Her name is Meridith Whitney, formerly a Fox in the den of foxes on FOX who ain't too accurate most times.

Whitney's stock picking ranked 1,205th out of 1,919 equity analysts last year and 919th out of 1,917 through the first half of 2008.

BUT she called this banking crises exactly right and with footnotes

Whitney warned last year - and continues to warn today - that the "incestuous" relationship between the banks and the credit-rating agencies during the real estate bubble will have a long-lasting impact on banks' ability to recover..

CNN Money has it all here Read it all and see the angst that her calls created for her, and anybody who dares downgrade a stock. Then Fortune has a list of 8 who called the bank crises and 8 who didn't. It's the 8 who not only didn't, but made the wrong call who are impressive. They especially include: Greenspan, Paulson, and Bernanke.