| From Business-standard.com: Vikram Pandit, the chief executive of Citigroup, has said the banking behemoth's putting in lot of money against US real estate is one of the main reasons for things going wrong at the company. "...What went wrong is, we had tremendous concentration in the sense we put a lot of our money to work against US real estate.
So how we got here is... By lending money and putting money to work in the US real estate market in a size that was probably larger than what we ought have done on a diversification basis," India-origin Pandit said..... Full Article: Source
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