Prior to one year ago we used to hear that Citigroup is the biggest bank in the world by market capitalization. But now, you will know how nasty this financial crisis can cripple even the biggest banks. No one would even expect how a world class and top bank like Citigroup and even our very own DBS took centre stage in this entire financial apocalypse.
Guess who is the biggest bank by market capitalization currently? It is no surprise how a conservative bank like HSBC can emerge at top spot suddenly. You can take a look at the following bank bubble chart. A very innovative and interesting representation I must say.
4 comments:
ummmmm... actually, no. this graph is yet more evidence of cosmic
incompetence on the part of those who put it together.
I wonder why we're in this mess....?
...and here's that link again, in case the above does not work:
http://scienceblogs.com/goodmath/2009/02/financial_morons_and_quadratic.php
well done Mark. i didnt realize the circles were referenced wrt to the diameter. all the while i thought it was the area that represented the capitalization.
sorry i didnt reply on your site. was a bit lazy to sign in.
the root cause of the problem is simply greed! the unscrupulous people who work in the banks are paid not enough!
talking about criminal offence, i think madoff should be charged under criminal offence just like a murder offence! they should charge the SEC as well for abetment in murder for failing to detect the fraud earlier.
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