Friday, July 18, 2008

The Writedown Derby Continues


Citigroup this morning and Merrill last night scheduled a quarterly earnings earnings announcement and slipped in the small detail that a lot more shareholder value disapperaed during the quarter.
$9.7 billion for Merrill, $7 billion and change for Citi.
I wonder if, compensation aside, John Thain is happy he took this gig.
Long MER

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