Citigroup is also the poster child for one of the key problems with our megabanks: the fact that they are too big to manage and, on top of that, the usual mechanisms that are supposed to ensure half-decent management don’t work.
It just so happens I have both a “trick” and a “treat” for you today.
First, the “trick.”
Wednesday the House passed a bill titled The Swaps Regulatory Improvement Act.
The trick is, it’s not about improving the who-really-knows-how-many trillions of dollars swaps (derivatives) market.
SPECIAL EXPANDED PREVIEW and free Radio Free Wall Street podcast. The Fed completed the first full week of its pumping campaign under QE2 this week…