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Video: Citigroup's Real Problem

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Jim Jubak

Video (3min 29sec): Citigroup's Real Problem. Citigroup says the financial supermarket created in the 1998 merger was never fully integrated. Citigroup now has the tough task of selling $400 billion in "hobby" businesses.

"I have to read this because it's important that I get this exactly right. This is what Vikram Pandit, the new CEO of Citigroup told a gathering of 300 Wall Street Analysts in the first week of May. 'The infrastructure of of this company has never been fully integrated.' Now he tells us.

"Ten years after the merger that put together Citigroup - putting together the brokerage firms and the insurance companies and a bank there were going to create this incredible financial super market.

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Video: How World Bank Led Haiti to Famine

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Haitian Famine

Video (3min 7sec): 'How World Bank Policies Led to Famine in Haiti'.

"Brasilian soldiers handed out food to the residents of a shanty town in Haiti on Tuesday in the calm of the rioting over food prices. No country has escaped the effects of escalating wheat and rice prices though the poorer nations like Haiti have been hardest hit."

Raj Patel: "Haiti at the moment is a place of incredible turmoil. For months, people in Haiti have been going hungry..."

"Recent rises in the price of rice have tipped people over the edge. Last week 5 people were killed in food protests - four protesters and one UN peace keeper.

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Is Bank of America Blindsiding Cardholders?

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Man has issues with Bank of America ripping him off

Is Bank of America blindsiding cardholders? The nation's biggest bank is doubling interest rates for some of its most responsible credit card customers. By BusinessWeek. Credit card issuers have drawn fire for jacking up interest rates on cardholders who aren't behind on payments but whose credit scores have fallen for other reasons. Now, some consumers complain, Bank of America is increasing rates based on no apparent deterioration in their credit scores at all.

The major credit card lender in mid-January sent letters notifying some responsible cardholders that it would more than double their rates to as high as 28%, without giving explanations for the increases, according to copies of five letters obtained by BusinessWeek.

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