Who Is Citigroup?

The Feds are about to offer a bailout to Citigroup, another of the giant banking/financial organizations that have contributed to the current financial meltdown. Most of us know the name from the distinctive logo and many of us carry one or more of their credit cards, but who or what is Citigroup? Washington Post writers Neil Irwin and David Cho provide some explanation in today's edition, with some curious background. Apparently, the shoddy financial behavior in speculation is nothing new. Buying, packaging, and reselling bad debt is a strategy that's been around for a while.