The banking industry is seeing a possible rough time ahead as foreclosures continues to rise and as charge offs increase. The fears come from the global banking industry, and is particularly focused on Citibank who might have to sell off some assets due to a shortage in capital. Citibank needs an estimated $30 billion, a huge setback for the company. Even Citigroup Chief Executive Charles Prince is resigning due to the growing pressure surrounding this whole issue of a global banking crisis. These times are sort of scary as we all hope the market stays afloat. I certainly hope everything turns out okay, my job depends on it as I am sure many others do too.
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