Wednesday, December 08, 2010

No Matter What We Do, You'll Have To Keep Bailing Us Out

I suppose I appreciate the honesty.

Parsons said allowing Citi to fail previously or in the future would be akin to having "the heart, the pump of the economic system fail because then everybody else dies."

"It's probably the most important private financial institution for maintaining our economic strength and presence around the world. You can't let an institution like that go down," he said.