September 2008

The banking carnage continued as Citigroup, the biggest US bank by assets, took over the banking operations of the latest casualty, Wachovia, for about $1,6bn this monday.

Citigroup will pay $1 a share, or about $2.2 billion, according to people briefed on the deal.
Wachovia is the latest casualty of a financial crisis that drove Lehman Brothers Holdings and Washington Mutual into bankruptcy and led to the hastily arranged rescues of Merrill Lynch and Bear Stearns.

The purchase gives Citigroup about 3300 branches and offices in 21 states.

These turn around really seems to keep Citigroup, BoA and barclays busy..


Okay, to start with..what made me start blogging all over again..
So actually my sleep cycle and my daily routine is bit screwed up these days..some days wid loads of work and some wid absolutely nothing..Some random thoughts received with no context in it, no pre-conceived notions or bias….I am trying to rectify this problem for a long time now but it’s one of those chronic issues that just keeps reverting to my ugly head…really difficult to find any Esc key in the vicinity..Many things are happening at the same fast tht they actually getting blurred now…Newayz nothing too serious, i think i found the way out..will try to pester more of my stimuli response with another post at some another time..;)