Citi's writedown; How bad??

[Bigpipn]

Quote from aPismoClam:

the treasury is short the dollar in a falling market. is that bad?

Atrociously.

 

[dr. fill]

Quote from Bigpipn:

So, it's fair to say a $10-20bln writedown is to be expected.

24 billion is likely. This represents 1% of Citi's balance sheet. Very big institution.

 

[TravelTrader]

Yes, 24 billion loss is the rumor on the Street.

 

[Bogan7]

Look for a massive relief rally on 24 bill or under

 

[toc]

$10B write down is near the gdp of many small countries.

 

[Bogan7]

Quote from toc:

$10B write down is near the gdp of many small countries.

So what? Why is that bad news? They will also slash the div which is a good move in my opinion and to anyone who is yet to buy the stock.

 

[daddyeaux]

didnt C say they had 50 bill of level 3 paper???

so the rumored and actual write downs account for about half of that....

 

[pumpanddumper]

These schmucks completely cut their divi yet?

 

[neutrosphere]

whats interesting is if C breaks up its companies and sells it seperately, it is well worth over 29 dollars that its trading now. The news about china turning down a multi billion dollar infusion is kind of troubling but i am still confident in the stock in the long run. possible leap 2010 januaries may be a cheap yet effective way to profit from this downturn.

 

[stocktrader2007]

They are going to put a decent quarter