As Twentieth US Bank This Year Fails Vultures Are Circling Over Citigroup
The Community Bank, based in Loganville, Georgia was closed by regulators on Friday, the Federal Deposit Insurance Corporation said, making it the 20th bank failure of the year amid the ongoing financial crisis.
The question on everyone's lips is who's next?
The vultures are circling over Citigroup, whose value has slumped from $180 billion to $20 billion in the last twelve months. Shares of Citigroup Inc. fell as much 24% Friday, before recovering slightly to close 20% lower at $3.77, less than a year ago they were $35.29.
Citigroup's share price has now dropped more than 60% this week alone, and analysts are starting to wonder just what the future holds for the financial-services company.
The question on everyone's lips is who's next?
The vultures are circling over Citigroup, whose value has slumped from $180 billion to $20 billion in the last twelve months. Shares of Citigroup Inc. fell as much 24% Friday, before recovering slightly to close 20% lower at $3.77, less than a year ago they were $35.29.
Citigroup's share price has now dropped more than 60% this week alone, and analysts are starting to wonder just what the future holds for the financial-services company.
