Friday, April 18, 2008

Citigroup reports $5.1 billion loss on hefty write-downs

NEW YORK - Citigroup Inc. lost $5.1 billion during the first quarter and will eliminate about 9,000 more jobs, as poor bets on mortgages and leveraged loans lopped billions of dollars from its investment portfolio
I'm sure the 9,000 people losing their jobs will LOVE to see Citi Field inaugurated next year.  Wonder how many paychecks they could write for the money spent on naming rights?

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