Citibank's COO, a Westminster grad, shares view on meltdown

NEW WILMINGTON, Pa. — The economic crisis that has hit the United States over the past several months is a complicated situation that will take more than a quick-fix effort to turn it around, explained financial expert Alan Smith.

“Who’s the culprit? We all are. We’re all in this together,” he said.

Smith, a 1977 graduate of Westminster College and COO for Citibank in New York, told about 100 students at the New Wilmington campus Friday that we are all responsible for the economic breakdown that has affected financial institutions, lenders and consumers.

During his 90-minute presentation, “Turmoil in Financial Markets,” Smith set out to present a primer on the investment industry and provide a framework that would allow students to think about the recent turmoil in the financial markets and ways to cope with and possibly rectify it.

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