Citigroup and the Power of Markets

by Dual Income No Kids on January 15, 2009 · 0 comments

Hi All,

By now, you’ve probably familar with the woes of banking giant Citigroup. For over a year and a half, the company has been hit by huge subprime losses, a decline in investment banking activity and a general shrinking of economy activity. In short, its not news that Citigroup is in a big mess.


The decline isn’t news, but its impressive nontheless. Think about it. – Its telling that despite an army of lobbyists, billions of dollars in income, the finest minds in banking and the full backing of the government of the United States – economic forces have brought one of the worlds largest banks to the edge of bankruptcy. If nothing else you have to be impressed at the titanic power of markets to create this kind of destruction.

Best,

James

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