Citigroup, Barclays: the Banking Crisis


	Citigroup, Barclays: the Banking Crisis

abailart

11-3-2007 4:23 AM

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tags:

banking, credit, finance, economics

1 Comment |

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11-3-2007 8:50 AM

arifsali

Barclays was just trying to buy another big bank, you wonder how could they be in trouble already.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/a48b17b6-46e2-41bf-a81e-bd1b54681d2e/18517098-2603-485A-B78A-0C88D51E6A0F/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.telegraph.co.uk/news/main.jhtml?xml=/news/2007/11/03/wciti103.xml" href="http://www.telegraph.co.uk/news/main.jhtml?xml=/news/2007/11/03/wciti103.xml" style="font-size: 11px;">www.telegraph.co.uk</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.telegraph.co.uk/news/main.jhtml?xml=/news/2007/11/03/wciti103.xml">Fears of more turmoil hitting global stock markets grew last night after it emerged that Citigroup, the world’s biggest bank, has called an emergency board meeting for this weekend amid fears of escalating bad debts.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.telegraph.co.uk/news/main.jhtml?xml=/news/2007/11/03/wciti103.xml">Citigroup is seen as a bellwether for the health of the financial system but has been rocked in recent days over concerns that its exposure to America’s sub-prime mortgage crisis is bigger than previously thought.</blockquote><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content7.clipmarks.com/images/clip-icon.gif" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/11/03/cnbarc103.xml" href="http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/11/03/cnbarc103.xml" style="font-size: 11px;">www.telegraph.co.uk</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/11/03/cnbarc103.xml">Barclays was yesterday hit by a cocktail of rumours about its financial strength on investors' nerves that the British bank could be sitting on big losses in its investment banking arm.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/11/03/cnbarc103.xml"><div align="center"><img src="http://content8.clipmarks.com/blog_cache/www.telegraph.co.uk/img/B20DED0D-421C-457D-B529-98F0438753C5" alt=" Barclays rumours knock shares" /></div></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/11/03/cnbarc103.xml">The bank also tried to shore up confidence by buying back shares</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/11/03/cnbarc103.xml">Several analysts believe Britain's banks face a major problem.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/11/03/cnbarc103.xml">"the liquidity crisis is deepening into an insolvency crisis".</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/11/03/cnbarc103.xml">"a wave of credit events could trigger payouts on credit derivatives that could dwarf the losses on sub-prime, and tightened risk models could prolong the crisis well into 2008</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/18517098-2603-485A-B78A-0C88D51E6A0F/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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