Citigroup Threatened Bankruptcy

Unemployment in the U.S. increased again after Citigroup mem-lay 50,000 karyawanannya. Financial crisis caused one of the largest banks in the world that continue to have losses and this is the time to do both Citigroup termination of employment with a larger number.

In October last, Citigroup has mem-lay 22,000 people after the previous merumahkan 13,000 employees. Until now, employees of Citigroup, which amounted to 375,000 people in 2007 have decreased by 20 percent.

Large-scale lay-by Citigroup shows more suramnya economic conditions in the U.S.. Talangan funds digelontorkan billions of dollars that the U.S. government, was not able to save perbakannya industry that is very fragile.

Bank based in New York during the third quarter experienced a loss of 2.6 billion dollars, forcing banks to reduce the asset-assetnya of more than 20 percent. In addition to lay, Citigroup will also release bankingnya retail business in Germany and sell its subsidiary Citi's Global Services.

The U.S. government is increasingly seok in the effort to save the economy. After the banks of the start of a cottage, the automotive industry in the U.S. also are on the brink edge of bankruptcy. However, White House appears to be focusing more efforts to rescue banking industry first.

Deputy U.S. House of Representatives Dana Perino White House is requesting funds to escape to the U.S. banking industry is not used to help the automotive industry is also threatened kolaps. "The government does not want the U.S. automotive industry fail and we will support assistance for the industry," said Perino

"But, there must be special programs designed by Congress to save the automotive industry, which can be taken from the Department of Energy program loan of 25 billion dollars," Perino row.

According to him, the best steps to save the U.S. automotive industry is using funds from the loan program to take funds from the Troubled Asset Relief Program (TARP) program of assistance to the banking industry.

Projection that unemployment in the developed countries will swell the global economic crisis menyusuk increasingly evident. Meeting G20 countries in Washington yesterday weekends also not able to provide positive sentiment on the movement in the stock market. More widespread economic recession, after the United States and the European zone, Japan on Monday also said yesterday is experiencing recession.