Word: othering
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Dates: during 2000-2009
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Finally, the deal Citi struck with the government may indicate to investors that the bank is actually in worse shape than many thought. To exit TARP, Bank of America was required to raise $18.5 billion in new capital, or about 40% of the $45 billion in capital it repaid the...
To be sure, Citi's potential losses in 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...
Massive building projects funded by debt offerings was driving Dubai's economy, creating lot of opportunities for bankers. Many other banks followed Citi's lead. Citi reportedly built up a staff of 50 bankers in the area. But as things started to unravel Citi remained deeply invested in Dubai. In...
These days it is clear that Citi's outlook was much more positive than it should have been. If that's the case in other areas of the world, Citi could be looking at more losses down the road.
In addition, the Islamic month of Muharram begins on Dec. 18 this year, kicking off 10 days of ceremonies in Shi'ite Islam that culminate on the holy day of Ashura, when the martyrdom of Hussain, grandson of the Prophet Muhammad, is mourned. Public events occur in every city, town...