Citigroup Lost 23% of its Value Yesterday - Why?

Dear Friends,

Citigroup lost 23% in one day! What's happening?

CNBC's Maria Bartiromo explains on NBC Nightly News that today's stock market is about "CONFIDENCE, or rather the LACK of it". She went on to say that "People do not have clarity about what banks have in their books"

In my opinion, the Short Term challenge is Confidence, but the bigger, more fundamentally structural challenges are

• banking losses aggravated by lack of transparency, and
  
• exponentially rising Unemployment

Can any Government solve these problems? The market wants the US Government to do so, but I think the reality is that it cannot be done. Time will heal all wounds, and Time for Healing will start AFTER reality sets in, and the world goes through the necessary pain. I'm not trying to be a doomsayer, or a sadist, but I really believe that's the reality of the situation, and trying to fight against it, adds new problems to an already complicated situation.

It is very sad when the reality of the future is a BLEAK Outlook.

Best wishes,

Ooi