WEEKEND READ: Model for a crisis

In the first of a two-part series, Satyajit Das explains the dramatic changes in banking in the late 20th century – the genesis of a banking model that, in retrospect, looks ludicrously flawed.

Citigroup recently announced that it was seeking board members who had "expertise in finance and investments”. So what, exactly, was the experience and expertise of the Citi board and senior management that has registered over $US45 billion in losses?

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