Monday, January 12, 2009

Citi 2

Over the weekend I wondered why Citigroup would sell its retail brokerae biz now. Here is another piece of the puzzle from the WSJ today:

"Citigroup is expected to post an operating loss of at least $10 billion when it announces fourth-quarter results on Jan. 22, say people familiar with the matter.Such a loss would be far worse than the $4.1 billion that Wall Street analysts are projecting."

Despite a lot of talk about China's growth stabilizing, oil is back below $40. Very nice.

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