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THE story of global banking in the past year has been one of riches to rags.
Peter Orszag, Citigroup's vice chairman of global banking, is on CNBC at 7 30 a.m.
Then he was hired to be vice chairman of global banking at Citigroup.
"We had our share of instability," says Tom Montag, head of global banking and markets.But it could have been worse.
After all, in an age of global banking, being too big to fail is not a national problem.
ON THE AGENDA | Peter Orszag, vice chairman of global banking at Citigroup, is on CNBC at 7 a.m.
It also illustrates the broader collapse of trust that is threatening the world of global banking and fiat money.
Henrique Meirelles, president of the central bank, used to be the head of global banking at FleetBoston Financial.
Today, nearly one-fifth of global banking transactions are booked in the United Kingdom, most of them in London.
The Basle proposals mark the first time emerging economies have been involved in the drafting of global banking standards.All the same, such standards can only do so much.
Of course, the fastest-growing area of global banking is in facilitating capital flows between emerging markets, particularly Asia and Latin America.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com