Will it ever end?

Today we hear about how Citigroup will start to dismantle parts of their businesses that they think are not profitable for the bank in order to salvage the already wounded giant. They sold off 51% of their brokerage house, Smith Barney to Morgan Stanley at a mere price of $2.7 billion and Morgan Stanley has the option to buy the rest off in 3 years at whatever price is deemed appropriate at that time. Whoever thought Citibank, a household name, a giant among dwarfs would be in so much trouble. The bank will now focus on wholesale banking tending to large corporations and retail banking that focuses on the everyday client. Personally, I think there are still many changes to come in the banking world and although as shocking as they may be, they won't surprise me at all.
Source: NY Times

I also think that many heads of banks were greedy in the sub-prime era as well as investors and failed to regulate the mortgage industry. When everyone was making money, nobody questioned anything, the American dream of owning a home was deceptively package just like the loans that were being sold.