For a dose of American
cynicism on current money matters there is this link from the Nouriel Roubini
site which is host to a number of economic and financial commentators.
This suggests that
whenever a crisis is to hand then so is Citibank the
inference being that they are the boys to watch for when it all goes bad.
It was a little while ago
since there was a difference of opinion
with this particular bank and it became a bit rough, so I am happy to side
with those who have a reservations about the way it does business.
The article is not long
and quite readable. With the division of
views at present between the optimists and the pessimists 2014 will be
interesting. The BBC has reminded us
that August 1914 was also a time for a financial crisis when the markets were
spooked by the War.
On the sketchy information
provided there was a question in the mind of how far it was just the reactions
of savers that drove the run on banks and bonds or how much it might have been
driven by crafty bear speculation.
So if anyone sees Citibank
indulging in a bear raid on the markets it is time to pull up the
drawbridge. Perhaps the next big one might finally do for the European
Uncommunity.
I think this is a telling comment from your link.
ReplyDelete"Most importantly, there’s little evidence that our biggest banks are any more ably run now than they were in the past decade."
Why would they be? We are talking about much the same people with the same background.