Wednesday, Mar 26, 2008
Citi: more housing led write-downs ahead
CNN: Citigroup To Post Deeper Than Expected 1Q Loss
"Oppenheimer & Co. tripled its loss estimate for Citigroup Inc.'s (C) first quarter Wednesday, forecasting the bank could write down another $13 billion. And with no end in sight for the credit crisis, Oppenheimer's outlook for the largest U.S. bank by assets remains grim". In addition to Citigroup, Oppenheimer's Whitney predicts $4.3 billion in write-downs for Bank of America Corp., $2.8 billion for JPMorgan and $1.5 billion for Wachovia Corp.
Posted by alan @ 04:36 PM (294 views) Add Comment
1 Comment
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1. harold said...
Is Citibank even solvent?
http://www.financialsense.com/editorials/turk/2008/0317.html