US Treasury 'Saves' Sinking Citigroup
November 24, 2008
By the My MBA Career Content Team – Find Top MBA Degree Programs
The US Treasury has announced that it is to support the struggling Citigroup bank with a $20 billion boost to its coffers, a move which may interest you if you work in the banking or financial sector.
And the government department, along with the Federal Deposit Insurance Corporation, will also guarantee approximately $306 billion worth of loans and securities, backed by assets including commercial and residential real estate.
Commenting on the move, the two bodies said: "We will continue to use all of our resources to preserve the strength of our banking institutions and promote the process of repair and recovery and to manage risks."
One of the ways that the pair hope to achieve this is through encouraging credit flows to businesses and households.
Such news may highlight financial sector changes to cope with the current monetary markets and you may feel that as well as business practices, staff competence needs to improve.
Indeed, a general management or finance MBA could be just two of the educational routes you may consider.
The Wall Street Journal reports that many MBA students are rethinking their career paths, with some deciding to enter a different sector until their originally intended area of work experiences some recovery.
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