Citicorp to the homeowners’ rescue

January 9, 2009 in Economic chaos, Markets, Personal Finance, credit, news
Tags: bailout, bankruptcy, business, Citi, Citi Citigroup, citigroup, credit, credit card, credit card rates, Economic chaos, economy, finance, foreclosure, government, intervention, loan, loans, money, mortgage, news, people, politics, rates, Red Plague, refinance, thoughts

Citi yesterday agreed to “cramdowns” for resetting mortgage amounts and rates for troubled borrowers.

Politicians all across America declared that this was a breakthrough, etc.