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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: GST who wrote (84034)	7/23/2007 10:42:54 AM
From: John Vosilla	Read Replies (3) \| Respond to of 110194

'We are going to be hit on both sides at once' Where do Americans hide out then? LIG just going to be swimming against the tide in places already overrun with foreign money like NYC? Message 23722296

To: GST who wrote (84034)	7/24/2007 10:17:44 PM
From: Mike Johnston	Respond to of 110194

Industrial Bank of China Passes Citigroup as Largest Bank by Market Value July 25 (Bloomberg) -- Industrial & Commercial Bank of China Ltd. overtook Citigroup Inc. to become the world's largest bank by market value after less than a year as a public company. ICBC's shares rose as much as 1.6 percent in Shanghai today to 5.78 yuan (76 cents), taking its market capitalization to $244.5 billion, more than Citigroup's $243.9 billion. Citigroup, led by Chief Executive Officer Charles Prince, earned more than three times as much as ICBC last year. The reshuffle atop the rankings underscores investor optimism about growth in China, home to three of the world's 10 largest companies by market value. Beijing-based ICBC in October raised a record $22 billion in an initial public offering in a nation where until recent years bank lending was steered by the government. ``It's a play on the growing prosperity in China in the longer term,'' said Christopher Wong, who helps manage $25 billion at Aberdeen Asset Management in Singapore.