Wednesday, November 14, 2007
“Trouble at t’mill”
Someone is going to jail for this
(Fortune) -- Facts coming out in the media, including those in the Fortune article, "Robert Rubin on the job he never wanted," make it clear that Citigroup delayed for more than a week - from Saturday, October 27th until Sunday, November 4th - in announcing material information about the multi-billion-dollar write-downs it expects to record in this quarter. In the more than a week that passed, there were five trading days - October 29th through November 2nd - in which investors buying and selling Citigroup (Charts, Fortune 500) stock did not know that the write-downs were coming.