US governments helps CitiGroup - who will be next?

Yesterday US government officials announced that the state will help another US banking group - Citi Group. Firstly, the government will directly invest $20 billion in the company (CitiGroup will issue preferred stocks). Secondly, US state will secure over $300 billion in securities and loans. This is another “try” to calm the markets and fight [...]

G20 meeting today

Today in Washington there is going to be a meeting of so called “G20″ group. These are 19 largest world economies and the European Union. The heads of states are going to discuss on the financial crisis. Well, this is a good example of what politicians tend to do when a crisis appears. They say there [...]