Sunday, February 17, 2008

Third World status ...

We haz it*.

Citigroup has barred investors in one of its hedge funds from withdrawing their money, and a new leveraged fund lost 52 percent in its first three months, the Wall Street Journal reported Friday.

...


Chris says as much in his post:

... As much as the big financial companies would like us to believe they're OK, this is alarming. This is not that different from a traditional run on the bank ...


And I quote myself** from a comment I left at Ranger and Lisa's place yesterday:

Gitmo, the secret CIA prisons, and Abu Ghraib are all mile markers on that slippery slope we're heading down toward Third World Banana Republic status.


This development is another.

*Apologies to the folks at the Cheezburger.
**Pompous bastid, ain't I? Heh ...

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