Save the Bank or Save the Factory?

With the share price tanking to $3 and change last week, Citi is just about toast. There’s plenty of talk about a new government bailout for them, the details of which are probably being finalized as I type this.

But why them, and not GM? This seems like a common meme not just among progressive bloggers, but finally even some of the mainstream media.

Former Labor Secretary and UCB Professor, Robert Reich, reflects on the latest financial boondoggle executed by Paulson and pals.

http://robertreich.blogspot.com/2008/11/why-citigroup-is-about-to-be-bailed-out.html

And I think he makes a compelling argument why we really need to look at saving Main St. over Wall St. If we want to create jobs and create wealth, we need to employ and empower the middle class.