Does Anyone feel like Bailing

[tw]

From the Washington Post of 24 Nov 2008:

Government Would Help Embattled Citigroup Under Plan
Citigroup, with $2 trillion in assets, is one of the largest financial institutions in the world, and is connected through various transactions with virtually every other significant financial institution. Government officials believe that if it were to go under in a disorderly way, it would create massive problems around the world.

Only a day earlier, Treasury Secretary Hank Paulson said the banking industry had been stablized. Enron accounting is so rampant that even one day later, the largest institution is on the verge.

Shares of Citigroup closed Friday trading for only $3.77, down 60 percent over the week, ...

Paulson has not a clue. Meanwhile, the solution to this was obvious in 2001 according to that previously quoted Washington Post article. Instead we made it worse. We deregulated people who must be heavily regulated.