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From: David C. Hamilton, Ph.D. (e-mail him)
Re: "Citigroup and the National Question" by Randall Burns
What a pity that Walter Wriston, former head of Citicorp, died in 2005. I would love to hear his remarks on the current difficulties at what is now Citigroup. As for the size of Citigroup, perhaps we can conclude that a bank too big to fail is a bank that needs to shrink!
Hamilton earned his Ph.D. in physics. He blogs here.
Randall Burns replies: Part of the issue with Citigroup is that it is a large bank not only in the U.S. but for the middle class in many Third World countries.
The failure of Citibank would be a major diplomatic black eye for the U.S. However, maintaining the interests of Citigroup depositors doesn't have to mean keeping the current set of shareholders, employees or managers.