Charlie Rose just asked Vikram Pandit (CEO of Citigroup) “Is the U.S. Government becoming the world’s bank.” And Vikram’s response was, “Um…” It wasn’t an unqualified “No! Why of course not. What a silly question!” But, “Um…”
Vikram pointed out how important Citi is because they’re in nearly two-hundred countries worldwide, which is of course why the bailout is so neccesary. Which made me wonder, how come none of those other countries are bailing out Citigroup?
Vikram says that Citigroup needed to get a big cash reward because it’s so important for them to make loans so that people can buy houses and stuff — cleverly dodging the important question. Nobody disagrees that people shouldn’t own houses. The question is, why do we need Vikram Pandit and Citigroup to facilitate it?
I believe this is a direct quote, “Citigroup matters because it is the means of globalization.”
I think that this skinny little dude is, in a rather bland way, making the case for an imperial monetary system. And he looks very serious and concerned while doing it. Fascinating.
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