Banking, finance, and taxes
Citigroup (C) Write-Downs To Hit $15.3 Billion
Published:
KBW analyst Diane Merdian now estimates Citigroup (C) will take $15.3 billion in writedowns in the fourth quarter tied to mortgage-backed debt and collateralized debt obligations, instead of the $11 billion previously estimated, according to a report from The Associated Press.
Citi shares are down 1.2% to $28.52 which will put them at a new 52-week low.
Douglas A. McIntyre
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