Unemployed? Sucky Credit? Try Citibank

Bailed-Out Bank Looks to Extend Credit to People Out of a Job and More Than 60 Days Behind on Their Mortgage

Citibank virtually assured it will be back for another government handout by announcing its new program to aid “certain borrowers who have recently lost their jobs and are at least 60 days behind on their mortgage payments.”

Okay, I’m no banker … but aren’t loans to people with good credit and a steady income more profitable than loans to deadbeats with no job?

At first, I thought the high-priced executive talent at Citibank (rather than the politicians) were the best people to lead the bank out of its financial mess.

All of a sudden, I’m not so sure.

What kind of Alice in Wonderland world are we living in where a company that’s in massive financial difficulty for extending bad loans gleefully announces a new program designed to increase the number of bad loans coming through the front door?

Wouldn’t it be easier to just announce that the next 10,000 depositors will get to watch as Citibank puts their paychecks and cash deposits into a paper shredder?

In a related story, Citibank announced every branch office will be replacing their ATM machine with a carnival money booth.

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Call me crazy, but wouldn’t it be easier to pick it up off the floor after the fan stopped?

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