TresSugar

Front Page: Taxpayer ATM to Doll Out $7.4 Trillion in Rescues

CitizenSugar — Mon, 24 Nov 2008 08:00:21 -0800

The US government has pledged more than $7.4 trillion to bail out the financial system. That amount of taxpayer money represents half of the value of everything produced in the US last year. - Bloomberg
Citibank is the latest institution to receive a bailout. The US government will back $300 billion in loans and invest $20 million in the troubled company as well. So far the markets have reacted well to the news. - New York Times

A rush hour-timed bomb left at least 19 people dead in Baghdad today. The roadside bomb blew up a bus packed with government employees. - BBC
Fed up with the rise in pirate attacks, ship and tanker owners from all over the world have called for a military blockade along the coast of Somalia. More than 90 ships have been seized so far this year. - CNN

Why You Shouldn't Choose Embarrassing Passwords

GiggleSugar — Thu, 15 Feb 2007 03:00:00 -0800

I'm usually not a fan of Citibank advertising, but this one gets me every time. This dweeby guy tries to whisper his silly codes and passwords out in public while banking on his phone. Finally he's forced to yell them out to the dismay of people around him. Ha!

Should Bailed Out Banks Spend Millions on Sports Teams?

LibertySugar — Mon, 02 Feb 2009 14:00:03 -0800

There's nothing surprising about companies sponsoring sports teams, but Bank of America may have gone too far. The bank, which has received $45 billion in taxpayer money, sponsored a five-day blowout called "NFL Experience" last week, and according to insiders the tents alone cost $800,000. ABC reports that in total, being the official bank of the NFL has put the bank (or taxpayer) back $10 million. Bank of America defended the sponsorship as part of its growth strategy.

Regardless, lawmakers have identified sports sponsorships as a problem. Last week Democrat Dennis Kucinich and Republican Ted Poe joined forces to ask Treasury Secretary Geithner to demand that CitiBank ends its $400 million contract with the New York Mets for naming rights to the team's stadium, now called CitiField.

Source

Are You Outraged by $18 Billion in Wall Street Bonuses?

LibertySugar — Fri, 30 Jan 2009 06:00:23 -0800

If you still manage to have a job on Wall Street, you might not realize that the good ol' days are over. Yesterday news broke that Wall Street bankers gave themselves $18.4 billion in bonuses last year - that's the same amount they received in 2004. President Obama angrily reacted, saying:

That is the height of irresponsibility. It is shameful, and part of what we’re going to need is for folks on Wall Street who are asking for help to show some restraint and show some discipline and show some sense of responsibility. The American people understand that we’ve got a big hole that we’ve got to dig ourselves out of, but they don’t like the idea that people are digging a bigger hole even as they’re being asked to fill it up.

Obama continued by complaining that his office shouldn't have had to pressure CitiBank against buying a $50 million private jet, because "they should know better."

The big bonuses shouldn't come as a surprise. In October, Time reported that thanks to the government's help, bankers and traders wouldn't face dismal cuts in bonuses. Without help, they could have seen bonus compensation drop 70 percent.

Source

Briefing Book! Blagojevich Thought About Appointing Oprah

LibertySugar — Mon, 26 Jan 2009 12:00:28 -0800

Senator Oprah: On Good Morning America, Illinois Gov. Blagojevich said he considered appointing Oprah Winfrey to Obama's Senate seat. -Talking Points Memo
President Obama: A look back at his first week. - Huffington Post
Education: Making the grade? Take a look at how countries rank in math and science test scores. - Good
Biden: John Stewart introduces us to a face we may see a lot of: Obama's STFU face. - GiggleSugar
Bailout: CitiBank gets bailout, buys $50 million jet. -Townhall

Online Identity Theft Is NOT Funny...

GiggleSugar — Mon, 11 Dec 2006 11:30:00 -0800

Unless, of course, it happens to someone else and presents itself on YouTube as a wannabe Citibank commercial.