This article draws a useful contrast between the way Citigroup and GM are being treated. The key issue seems to be moral hazard. Citi bosses are being rewarded eventhough they are the ones that presided over huge mistakes. GM, on the other hand, has been in slow relative decline. Its current management are not wholly to blame for the current situation.
As such, helping Citi has a moral hazard effect - and yet they are getting help - whereas helping GM does not and yet they are not getting help.
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