Cheryl Cotterill

Citi's Underwhelming Bailout

Carefully consider the consequences that a bailout will have on the people. First and foremost, it takes away their constitutional right to due process. For example, anyone with a Citi credit card is now also indebted to the government, which means that if your debt is sent to collections you no longer have your day in court to explain your side of the story.

The bailout means that these nationalized financial institutions and banks are now entitled to use the Treasury's full arsenal of collection tactics. Your tax returns and refunds may be seized and your wages may be garnished with impunity. Gone are the constitutional days that require a court judgment prior to depriving one of their property.

So thank your government for working hard on your behalf to bailout these untrustworthy institutions and in doing so also handing over your constitutional right to due process.