Banking woes in context

In these troubled times the media is full of statistics on the turmoil in the financial markets. A recent one which caught my eye was in City AM which clearly shows how bad things really are in the banking sector and just how far our banks have fallen over the past 2 years. The most notable decline, from the statistics sourced from JP Morgan, was for troubled Citigroup, which has seen its value slump to just $19 bn, down from the $255 bn of 2007. Elsewhere the value of RBS has fallen to $4.6 bn from $120bn and JP Morgan has seen its valuation almost half and now stands at $85 bn.