Word: lefts
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...Verme was reassigned to London (though he has been promoted to ceo of all Citi's business lines across Europe, the Middle East and Africa, and Citi stresses he is "one of its highest ranking executives globally"). Mohammed al-Shroogi, who headed Citi's United Arab Emirates operations, left in September. In late November, Dubai World, which is a for-profit development company controlled by the ruling family of the gulf state, indicated that it may have to default on a portion of its $60 billion in loans. The rush to Dubai has left Citi on the hook for billions...
...Dubai are not enough to bring down the bank. Citi has $2 trillion in assets. And the Dubai losses look puny compared to huge hits the bank took in subprime lending and the mortgage market in general. But Citi was far more aggressive in courting Dubai business and left itself open to far more losses in what now seems was a financial house of cards than any other U.S. bank. JPMorgan, the U.S. bank with the next highest loan exposure to Dubai, has $2.5 billion in loans outstanding in the U.A.E., according to Creditsights, less than half of what Citi...
...that there is no space to justify any act of violence: "First because it is so grave in itself, and also because it could lead to a tragic season that we have already experienced in the worst years of our life," a clear reference to the ideological terrorism that left hundreds dead in Italy in the 1970s and '80s. There was also widespread condemnation of the tactics of opposition politicians Rosy Bindi and Antonio Di Pietro, who have suggested that Berlusconi's scorched-earth approach to politics helped create a climate ripe for violence...
Regardless of what drove Berlusconi to exhibit his battered face, the world would be left with sufficient images of both the attack and its chaotic aftermath. Professional media coverage and amateur footage is on YouTube, and Italians have clicked through the events of the night like a real-time, interactive Zapruder film. Meanwhile, photographs of Berlusconi's slashed and bruised visage will now forever be part of the way we see the perma-tanned and image-conscious billionaire...
...broken nose, two cracked teeth and sliced lip the Prime Minister suffered. Doctors at San Raffaele Hospital in Milan have run repeated MRIs on Berlusconi; there have been no signs of neurological damage so far. Berlusconi told aides that only a miracle prevented him from being blinded in his left eye. Interior Minister Maroni said the attack could have been fatal...