Were they evil or merely stupid?

It is astounding to realize how this last congress acted in its bailout of Citicorp. The figures speak for themselves. Citicorp market cap (the sum total of shares x stock price was to the tune of 21 Billion Dollars (End of November, 2008 (CBS)). Then the US monies given: 345 billion US $Dollars. The deal: an "8-10% share" of stock.

Were they evil or merely stupid?

Evil if they meant to funnel public money to a select group of private capitalists in a unwarranted overvaluation of their stock, that doesn't fit with current valuations. (I take it that you will agree that prognosicating future valuations, wherein Citicorp will be worth 345 x 10 (3.45 trillion US $Dollars), the company would have to grow 1000%, which I think dear reader will agree are to be taken with uttermost skepticism.

Stupid if they meant to find a good bargain for the public's money in this filthy whore, Citicorp.