Tuesday, February 24, 2009
I was reading news today that Citigroup who was once a leader in banks has dropped its ranking to tenth largest banks in the world and were now in talks with the government and other stakesholders including Singapore very own GIC to up their stake holdings in the bank. Apparently, Citigroup is unable to save itself from the financial crisis and with the deepening of the recession, it led itself slide further down. This is an interesting week to see the plight of Citigroup from a world leader of banks to the brim of its bankruptcy. Should it fails its talks with its stakeholders and the ferderal reserves, we may even see another case of Lehmen Brothers.
what we could have been, 1:27 PM.
