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was up big on earnings, but it was mostly adjustments. Did get better fixed income trading results. Otherwise turned GAAP $0.15 into $1.06
In other words, GAAP $0.15 earnings were reported as $1.06 in adjusted earnings.
big part of this was the devaluation of
Morgan Stanley Smith Barney assets from the JV interest it is selling to
. This should tell you that Citi Holdings has a lot of far over
valued assets. That's not good, especially when
is decreasing its loan loss reserves.
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