Word: banke
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...these days it looks like much more is on the block at Citi than the bank is letting on. Citi is reportedly considering a plan to either sell off or close a number of its retail branches. At just over 1,000, Citi has a much smaller branch network than its rivals. Bank of America, for example, has 6,000 branches nationwide. Citi is reportedly considering closing or selling its bank branches in cities such as Boston, Philadelphia and other areas of the country where it does not have a significant presence. Citi has denied any such intention.(See pictures...
...many of its rivals, which at times has been a benefit to those rivals. With the acquisition of Citi's Salomon Smith Barney, Morgan Stanley now has the largest brokerage force in the nation. And while Morgan has gotten out of some trading businesses, it is expanding its retail banking business. Executives at Bank of America and Wells Fargo say there are no plans to sell off major pieces of those banks...
...Next Asia will also have to come to grips with its inherent lack of coordination by exerting greater control over its fragmented economies, markets and political systems. China's four largest banks, for example, still have over 50,000 branches between them - branches that in many cases function autonomously with respect to deposit-gathering and lending policies. Such a fragmented banking system has long been a major complication for China's central bank and its execution of a coherent monetary policy. Asia's rural-urban dichotomy also creates a natural fragmentation to its social and economic fabric - underscoring ever widening...
...Westminster and Wapping, the 51 licensed mudlarks are the only people allowed to excavate the historically rich north side of the river, which since A.D. 50 has provided docking points for Roman, Saxon, Viking and Norman occupiers and, more recently, for British trade boats and royal ships. (The south bank, Shakespeare's side, is notable for its abundance of brothel paraphernalia.) (See pictures of the treasure hoard found in Staffordshire...
Beck (and Olbermann, Limbaugh, et al.) are laughing all the way to the bank, yet we continue to tune in and ask for more. I ask you, Who are the idiots in this picture...