My take on a variety of topics that are shaping the U.S. in the 21st century.
Friday, July 18, 2008
When will the writedowns end?
Citibank wrote down $7.2 billion of bad loans this quarter, Merill $9.7 billion. Will the writedowns ever stop? Citi has written down $56 billion since last July.
1 comment:
And the market rallied because some of the losses were not as great as expected. Truly we are living in OZ.
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