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The CEO of Citigroup Announced a $8 Billion Write-Down for the Company

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The CEO of Citigroup announced a $8 billion write-down for the company because of bad loans.This announcement followed a previous announcement of a $5 billion write-down three quarters earlier.The board asked him to step down.


Definitions:

Stability

The condition of being resistant to change and capable of maintaining a balanced or constant state despite external pressures.

Equilibrium

A state of balance or stability within a system, where competing forces or influences are equal.

Manifest Functions

The recognized and intended consequences of any social pattern, which are explicitly stated and understood by the participants in a social system.

Latent Functions

The unrecognized or unintended consequences of any social pattern, which may contribute to the functioning of a social system.

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