I don’t feel sorry for Citigroup
So now they’re talking about selling of parts of the corporation or merging with another bank. What a shame it has come to this for the world’s most powerful financial institution. All that greed has finally come back to haunt them. They (and other financial institutions) pushed for deregulation in the late 90′s and they sure got it. Truthfully, ever since I read books like Credit Card Nation and Maxed Out I’ve lost all respect for these executives. The worst part is all the workers who have lost their jobs due to the collapse of the US financial sector. I don’t care about the board of directors or the executives, but the employees who have lost their jobs due to the recklessness of these managers were done a grave injustice. It also appears that history does indeed repeat itself over and over again.
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