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Is Citigroup Solvent?
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by mtippett | February 27, 2008 at 11:48 am
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Citigroup, which has incurred $22.1 billion in losses from the subprime crisis, has $320 billion in "significant unconsolidated VIEs," according to a Feb. 22 filing by the New York-based bank. New York-based Merrill Lynch & Co., which recorded $24.5 billion in subprime writedowns, has $22.6 billion in VIEs, according to CreditSights.
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Most RecentMost Recommended Comments (2)
at 11:54 on February 27th, 2008
Thank you for posting this largely unreported story.
at 12:20 on February 27th, 2008
I think that CitiGroup wouldn't be left to the law of the jungle, and that the federal government would step in to bail them out if need be.