After a meeting with Treasury Secretary Henry Paulson, President George W. Bush said that the U.S. will bail out Citigroup, one of the largest American banks.
Even as stock markets around the world shot up today, economic projections pointed downward in many countries, sparking skepticism about how long the Citigroup bounce might last.
Citigroup also has a huge international presence, with more than 200 million customer accounts in 106 countries.
Robert Lenzner, national editor of Forbes magazine, speaks with Martin Savidge about the repercussions of Citigroup’s fall, overseas faith in U.S. financial institutions and foreign banks that are also threatened.
03/19/2009 :: 02:31:53 PM
J M Smith Says:
Lenzner knows whereof he speaks, he cares about individual investors, he knows how the powerful croon the Malthusian blues to cover their excesses; checkout his StreetTalk