CREDIT CRASH
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Citigroup reports reports its first quarterly loss since 1998. reveals writedowns due to subprime losses of $18.1 billion.
CEO Vikram Pandit said " read more »
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Citigroup CEO Charles Prince resigns after Citigroup says it may write down $11 billion of subprime mortgage losses in addition to a $6.5 billion wri
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Nothing surprising here, plenty more losses to come for financials....Ambac covers $556bn in municipal and asset-backed securities, hardly...I always check credit ratings before I make a decision...This won't tackle the lack of deals or reluctance of lenders to refinance...At least Bernanke was clear about what they believed - even if they're...Fed sees more risk to the downside BUT doesn't realize that there's enough...Writedowns are MORE than $18 billion. In the release they reveal U.S....Dont see how they were all owned by the "elites", anyway dont...