Citigroup writes down $18.1 billion due to investments related to subprime debt. Observers and analysts unanimously agree that that is a lot of billions. [Reuters]
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Comments:
Awesome news. Fuck Citigroup in their greedy asses.
It's OK. Citi sold some shares to China or Kuwait... who cares who bought them?
The important thing is that the CEO and upper management will continue to get their pay and bonus's on time.
I was worried they wouldn't get paid and quit.
If Citi doesn't mind losing a little more money I would be more than happy with a random bonus check equal to one half of one percent of a billion dollars... please?? I think I did a good job at work this year.
Maybe they'll go under and I wont' have to pay off the next 29 years of my mortgage :x:
too bad it doesn't work like that :(
@BrandonOBrien: More likely, all the money for your mortgage will now directly go over seas. Banking was the only major industry the US had left.
That is a great summary.