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Non-Tech : Citicorp (CCI) -- Ignore unavailable to you. Want to Upgrade?

To: Art C. who wrote (35)	4/19/1998 3:45:00 PM
From: m-top	Read Replies (1) \| Respond to of 101

Thanks Art, Found the following in a recent Reuters column: >>>WASHINGTON, April 16 (Reuters) - House Banking Committee Chairman James Leach said on Thursday that his panel will hold hearings later this month on the recently announced bank mergers, including the planned union between Citicorp and insurance giant Travelers Group Inc. "The case for greater competition and homogenization within the financial services industry -- banking, securities and insurance --may be compelling; but the precept that banks should be intertwined with general commercial companies demands great scrutiny," the Republican Congressman from Iowa said. The lawmaker's comments came a week after Citicorp and Travelers announced plans for their historic $70 billion merger, creating one financial conglomerate that would offer insurance, securities and banking services, in defiance of the nation's Depression-era banking laws.<<< The more I think about this situation, the more it scares the @#$% out of me. I can see the DOW chopped off at its kneecaps if this deal gets denied. Thank god I have a nice little index short position to help me sleep at night!