Citigroup (NYSE: C) continues to hemorrhage capital as fast as it can raise it. The good news last week is that America’s largest bank “only” lost US$5.1 billion in the first quarter, which was less than the vaunted analysts had expected. Less good, Citigroup wrote down US$16 billion in assets. Worse for the bank and those investors brave/oblivious enough to recapitalise it is that you could not pick a U.S. bank more exposed to the housing and retail busts unfolding.
April 21st, 2008 | Dan Denning | 0 comments | Continued
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