Citigroup (C) is facing a potential multibillion-dollar writedown as it begins unwinding its...


Citigroup (C) is facing a potential multibillion-dollar writedown as it begins unwinding its minority investment in the Morgan Stanley Smith Barney brokerage. Accounting complications and a reduced valuation could leave Citi facing an after-tax hit of up to $1.8B, more than it earned in Q4.
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Comments (2)
  • 7footMoose
    , contributor
    Comments (2229) | Send Message
     
    And the Hits just keep coming. Is there no end, ever, to the unwinding of bad investment decisions?
    22 Feb 2012, 05:57 AM Reply Like
  • wexfordva
    , contributor
    Comments (2) | Send Message
     
    This is one reason why "price times book" is a worthless measure in the financials - book values as stated by the big banks are illusory at best
    22 Feb 2012, 06:55 AM Reply Like
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