When I opened this morning’s The Hindu - Business Line, I found the headlines “SBI should have bought Citibank when shares were selling at $1”.

Mr.P.Chidambaram, our present Union Home Minister was commenting on big opportunities being missed by banks when he was presenting AIMA-JRD Tata Corporate Leadership Award. He further shared that during his earlier stint as a Finance Minister he thrice made a suggestion to the SBI Chairman to buy Citibank when its shares were selling at $1.

We all know now, the kind of troubles Citibank was in those days and also the kind and extent of support provided by the US Government virtually to bail out this bank. But for this support the bank could have gone under. SBI Chairman might have had some other reason for not pursuing this suggestion.

Well. I did not know whether to laugh or seriously ponder over this. Some conflicting thoughts occurred to me while going through this.

1. Whether US Government would have allowed this to happen in the first place as Citibank is considered to be one of the faces of US in the global financial industry?

2.Whether Indian Government would have extended such massive support US Government extended to Citibank?

3.Whether the Indian political parties would have kept quiet after GOI / SBI making such huge investments in Citibank given its financial position at that time?

4.Even though the then Finance Minister made the suggestion (not once but thrice), is it prudent on his part to reveal now the details. Normally one would not reveal such business thoughts/plans/strategies publicly.

5.There is possibility that US Government and US Businesses may view this otherwise.

6.I don’t know whether it is proper for the Union Minister holding post presently to reveal such suggestions made even though they may pertain to another Ministry and that too when the Parliament is in session.

He could have waited for his retirement to share such ‘attention grabbing’ news.