Word: citibankers
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...numbers simply boggle the mind. The total debt of Third World nations to Western banks is approximately $300 billion. South American countries owe $71 billion to the U.S. Citibank, the largest U.S. bank, has made loans to Brazil alone worth fully 75 percent of its total capital. The nine largest U.S. banks have lent Third World nations more than twice their net worth--$64 billion. These concrete-and-steel Wall Street fortresses would be completely wiped out by a Latin American repudiation of all debt...
Effects of post-War sovereignty principles and the oil crisis have been cleared. The chairman of Citibank. Donald Platten, perhaps stated the underlying linkage of the U.S. economy to the rest of the world in the New Republic, when asked it he thought the banks had gone...
...consumer finance. A sci-fi concept only five years ago, home banking is now being introduced by institutions ranging from New York City's Chemical Bank (deposits: $29.8 billion) to Washington, D.C.'s Madison National ($178 million). The biggest firms in U.S. banking, New York's Citibank and San Francisco's Bank of America, are also testing such programs...
...debt has also cramped U.S. foreign aid and cooperation among European nations. Last year's nationalization of Mexican banks dramatized just how much many foreign governments depend on Northern banks, as Mexico appeared to slam the brakes on its economic growth program simply to appease the directors of Citibank and Chase Manhattan...
WAIT FOR THE RATE! That teasing message, placed in New York City newspapers by Citibank last week, is among a growing number of signs that the battle for consumers' savings is heating up again. Starting in October, federal regulators will let U.S. banks and savings and loans pay whatever interest they want on certificates of deposit. The yield on most CDs is now tied to U.S. Treasury bill rates; a six-month certificate, for example, currently pays about...