Citigroup Writedowns Not as Bad as Expected
by Sean Hackbarth
Citigroup reported mortgage writedowns that were less than expected. They’ve also beefed up their capital reserves. Now, this is only one data point and not a sign finance firms have survived the mortgage crisis. Who knows if another Bear Stearns or Fannie-Freddie rescue drops on us.
“Citi Posts Smaller-Than-Estimated Loss on Writedown”
