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Citi's woes reflect depth of crisis

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Margaret Bassett

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But since then, the bank has lost about 70 percent of its stock market value and, by Sunday night, it became the recipient of a large new federal bailout. It isn't Citi alone that's faltering. The stock value of America's financial sector as a whole fell by nearly 40 percent in that same period since Oct. 28.

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Margaret Bassett passed away August 21, 2011. She was a treasured member of the Opednews.com editorial team for four years.

Margaret Bassett--OEN editor--is an 89-year old, currently living in senior housing, with a lifelong interest in political philosophy. Bachelors from State University of Iowa (1944) and Masters from Roosevelt University (1975) help to unravel important requirements for modern communication. Early introduction to computer science (1966) trumps them. It's payback time. She's been "entitled" so long she hopes to find some good coming off the keyboard into the lives of those who come after her.