FedUpUSA

Hmmm… Who Is On The "Boom" List?

One wonders, after this report on who is "too big to fail":

North American banks:

Goldman Sachs, JP Morgan Chase, Morgan Stanley, Bank of America-Merrill Lynch, Royal Bank of Canada

Note who’s missing: Citi and Wells.

Wells, it might be argued, has little cross-border involvement.  Ok.

Citi, on the other hand…….

One wonders if there’s a game afoot here, in that Citibank apparently isn’t considered "too big to blow chunks", while they are unquestionably involved in world markets to an incredible degree – but they also have a whole bunch of interesting "assets" (including a massive amount off balance sheet) that I can’t get my arms around.

Perhaps there’s two categories among the "massively interconnected" – too big to fail, and too screwed up to save?

Update: Apparently Reuters was wrong, and Citi is on the list.  Oh darn.

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