There seems to be bigger problems confronting the US economy post Obama’s election, with US auto industry CEOs not being able to convince the US congress members on the exact state of their problems. None of the US CEOs were able to quantify the level of financial mess they are likely to face, which made the US congress members reject their request for immediate support worth billions of dollars. 

The next story is about the Citi group being in deep trouble, and rumors are doing rounds that it is most likely to go under in coming weeks and may be forced to become government owned company shortly. The group is making last ditch efforts to stay afloat through a massive 50000 job cuts, especially at senior levels to reduce the expenses.