Citigroup (C): Another $9 Billion In The Hole?

[24/7 Wall St.]

24/7 Wall St. Daily News

Goldman Sachs researchers have decided that Citigroup (C) could lose another $9 billion in the second quarter. The big money center bank does not have that kind of capital on hand. According to Reuters, Citi "may incur second-quarter write-downs of $9 billion and raise additional capital, said a Goldman Sachs analyst, who now expects a loss for the bank for the period." If the dynamics of Citi's balance sheet look much like Barclays (BCS), that means the US financial firm may have to raise another $10 billion. Both banks have similar exposure to mortgage-back paper and LBO loans. Citi might...http://feeds.feedburner.com/~f/typepad/RyNm?i=aw23rI</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=aw23rI) http://feeds.feedburner.com/~f/typepad/RyNm?i=pyfabI</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=pyfabI) http://feeds.feedburner.com/~f/typepad/RyNm?i=JsMSJi</img> (http://feeds.feedburner.com/~f/typepad/RyNm?a=JsMSJi)


complete story here... (http://www.247wallst.com/2008/06/citigroup-c-ano.html)