Citigroup Reports Big Loss and a Breakup Plan
By MATTHEW SALTMARSH and ERIC DASH Published: January 16, 2009
Citigroup capped a devastating 2008 by announcing Friday that it would split into two entities and that it had posted an $8.29 billion loss for the fourth quarter.
Citigroup confirmed that it would divide, for management purposes, into two separate businesses — Citicorp and Citi Holdings.
Why are we giving these guys money?