Too Big to Fail

Nobody is happy about the terms of the Citi group bailout, which appears to be a simple handover of cash with no strings attached at all. When we give a company $7 billion more than it's actually worth because it's "too big to fail," that shouldn't be giving anymore—that should be buying. Mark Thoma has your link roundup, with more commentary from Matt Yglesias, Paul Krugman, Kevin Drum, and Marginal Revolution. The word of the day, you'll find, is "ugh."