Tuesday 28 January 2014

Anyone For A Crisis?

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.

1 comment:

  1. I think this is a telling comment from your link.

    "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.