An article today on forbes.com (http://www.forbes.com/home/2009/01/11/banking-citigroup-pandit-biz-wall-cx_lm_0112citi.html) regarding how the era of this superbank could possibly be coming to an end. With losses close to 20 Bn and expected losses of 4 Bn this quarter, the bank is at a financial low. Additionally, the investment banking division which drove most of the profits earlier has all but disappeared. Now citi is reportedly considering selling off some of its divisions like Smith Barney, its retail brokerage operation and one of the divisions that was actually making money over the past few quarters
Hope Citi survives. We dont want another piece of bad news in this economic condition
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