All Good Things Must Come To An End

I knew in the back of my mind for some time now, that Citigroup was experiencing drastic problems. Let it be financial or management problems which led to the end of a global giant, the days of being known as a financial supermarket has ended.

Financial supermarkets (a financial company who services all of their customers needs as a one-stop shop) has come to an end. Since Wal-Mart has been so successful in the past years as being a one-stop shop for their customers, financial institutions envisioned being as big, or even bigger as Wal-Mart on a global stance. But unlike Wal-Mart who grew based on their intangible assets (friendly customer service, stocked shelves at all times, 24 hours locations in most states, customer/employee retention) which distinguishes them from the competition, financial institutions ranked their worthiness based on loan/credit debt acquired. Too much leverage and dishonest management led to their downfall.

Sure we will still have financial supermarkets, but not as much as we did ten years ago. Maybe with this go-around, we can get it right.

http://www.cnbc.com/id/28654817