Asks the black conservative Republican, about the company led by black chairman Richard Parsons: "Despite having closed a deal with Morgan Stanley to form a joint venture under the brand of its Smith Barney brokerage unit, Citigroup still finds itself unable to raise the capital its peers have. This is quite the state of affairs for a bank that once bestrode the global economy, and became the prototype for the financial supermarket business model. Another sign of the troubled bank’s difficulties was announced earlier today, as the Dow Jones Industrial Average announced that it was dropping Citi from its bellwether index. Today’s move by the Dow, coupled with Citi’s ongoing financial issues, raise legitimate questions as to whether the bank can stabilize itself, even as it remains heavily reliant on government funds. Perhaps Citigroup ought to consider itself fortunate. After all, they are avoiding a messy and controversial government-controlled bankruptcy that nationalizes it in all but name, and are spared the ignominy of having a 31-year old law student determine their fate. Well, at least for now anyway..."
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