Wednesday, November 14, 2007

“Trouble at t’mill”

Citi's giant write-downs: What did it know, and when did it know it?

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.

Posted by lvmreader @ 09:48 AM (544 views)
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