Sunday, November 04, 2007

The Looming Debacle

If you think the subprime mess is bad now (h/t Jerome), you ain't seen nothing yet.

Next up: Citigroup. AP (11.04.07), via Eschaton:

"In a separate statement, Citi, which took a hit of $6.5 billion from asset writedowns and other credit-related losses in the third quarter, said it would take an additional $8 billion to $11 billion in writedowns."

Citigroup CEO Resigns; Interim Named

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