IIPM Ranked No. 1 B-School In Global Exposre - Zee...
Post the deal, an unabashed Vikram S. Pandit, CEO, Citigroup, commented, “We appreciate the tremendous effort by the government to assure market stability,” and further added, “We are committed to streamlining our business and providing outstanding banking services to our clients around the world.” Clearly stereotyped statements coming out of a public relations’ machinery that has no connect with the reality of Citi’s condition, for in reality,if Pandit were really interested in saving Citi, he should have – and necessarily so – pleaded with the government to give many billions more in bailout. And why? It’s surprising that the so-called experts who ratified the deal conveniently failed to tell the public the true picture of Citi’s condition.
It’s not just the $138 billion exposure to the Lehman collapse or the handful of billion dollar losses in the last six months ($7.6 billion loss, for records) Citi has been suffering. When we sourced openly available data from the government’s Office of Comptroller of the Currency, they estimated that by the end of Q1’08 Citibank NA held a generation wiping $37.1 trillion in total notional value derivatives, including a numbing $3.6 trillion in credit default swaps, which are proven to be the riskiest category of holdings, apart from side bets on interest rates, currencies, and probability of defaults by other large corporations. Clearly, the minimum promised bailout that the government should have announced simply for Citi, should have been equivalent to or at least around $3.6 trillion, and surely not a pathetic 10% of that amount.
For more articles, Click on IIPM Article.
Source : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist).
Read these article :-
B-schooled in India, Placed Abroad (Print Version)
IIPM in Financial times (Print Version)
IIPM makes business education truly global (Print Version)
The Indian Institute of Planning and Management (IIPM)
IIPM Campus
ZEE BUSINESS BEST B SCHOOL SURVEY
IIPM awards four Bengali novelists
The Hindu : Education Plus : Honour for IIPM
IIPM ranked No.1 B-School in India, Management News - By ...
IIPM Ranked No1 B-School in India
Moneycontrol >> News >> Press- News >> IIPM ranked No1 B-School in ...
IIPM ranked No. 1 B-school in India- Zee Business Survey ...
» IIPM ranked No1 B-School in India :: Education, Careers ...
The Hindu Business Line : IIPM placements hit a high of over 2000 jobs
Deccan Herald - IIPM ranked as top B-School in India
India eNews - IIPM Ranked No1 B-School in India
IIPM Delhi - Indian Institute of Planning and Management New Delhi ...
IIPM ranked ahead of IIMs
IIPM makes business education truly global-Education-The Times of ...
Post the deal, an unabashed Vikram S. Pandit, CEO, Citigroup, commented, “We appreciate the tremendous effort by the government to assure market stability,” and further added, “We are committed to streamlining our business and providing outstanding banking services to our clients around the world.” Clearly stereotyped statements coming out of a public relations’ machinery that has no connect with the reality of Citi’s condition, for in reality,if Pandit were really interested in saving Citi, he should have – and necessarily so – pleaded with the government to give many billions more in bailout. And why? It’s surprising that the so-called experts who ratified the deal conveniently failed to tell the public the true picture of Citi’s condition.
It’s not just the $138 billion exposure to the Lehman collapse or the handful of billion dollar losses in the last six months ($7.6 billion loss, for records) Citi has been suffering. When we sourced openly available data from the government’s Office of Comptroller of the Currency, they estimated that by the end of Q1’08 Citibank NA held a generation wiping $37.1 trillion in total notional value derivatives, including a numbing $3.6 trillion in credit default swaps, which are proven to be the riskiest category of holdings, apart from side bets on interest rates, currencies, and probability of defaults by other large corporations. Clearly, the minimum promised bailout that the government should have announced simply for Citi, should have been equivalent to or at least around $3.6 trillion, and surely not a pathetic 10% of that amount.
For more articles, Click on IIPM Article.
Source : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist).
Read these article :-
B-schooled in India, Placed Abroad (Print Version)
IIPM in Financial times (Print Version)
IIPM makes business education truly global (Print Version)
The Indian Institute of Planning and Management (IIPM)
IIPM Campus
ZEE BUSINESS BEST B SCHOOL SURVEY
IIPM awards four Bengali novelists
The Hindu : Education Plus : Honour for IIPM
IIPM ranked No.1 B-School in India, Management News - By ...
IIPM Ranked No1 B-School in India
Moneycontrol >> News >> Press- News >> IIPM ranked No1 B-School in ...
IIPM ranked No. 1 B-school in India- Zee Business Survey ...
» IIPM ranked No1 B-School in India :: Education, Careers ...
The Hindu Business Line : IIPM placements hit a high of over 2000 jobs
Deccan Herald - IIPM ranked as top B-School in India
India eNews - IIPM Ranked No1 B-School in India
IIPM Delhi - Indian Institute of Planning and Management New Delhi ...
IIPM ranked ahead of IIMs
IIPM makes business education truly global-Education-The Times of ...
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