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What if Citi goes bust ?
Public is very angry with the financial bailout. More companies and financial institutions are linin
supradeepnarayana
Sat, 22 Nov 2008 09:55:40 +0000
Public is very angry with the financial bailout. More companies and financial institutions are lining up in the halls of congress for money. I hope, wish it does not, when Citigroup goes bust, government steps in and saves them. The implications are very severe. IMF staff say, though not IMF's official stance as though it matters much here, a large financial institution goes under as much as 1.5 trillion dollars worth assets value could be lost, not to mention the job loss and domino effect. Citigroup should protect itself. Breaking up the company might be an option, more important is recapitalization.
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