Citigroup sells Japanese unit

Citigroup today announced that they are going to sell their Japanese unit. Citigroup is desperately trying to conserve cash and turn around.

You can read the whole story here: http://biz.yahoo.com/ap/081130/as_japan_citigroup.html

More and more companies are being taken over by international companies or selling their divisions to them. Just take a look at Anheuser-Busch (InBev), Morgan Stanley (CIC), Lehman Brothers (Barclays), or Ford selling their 20% share in Mazda back to the parent company. Pretty soon this country will be called the International States Of America, because more American companies will be owned by foreigners.

I highly recommend that everyone view Jim Roger's interview on YouTube below.