Wednesday, April 23, 2008
US banks prepare for further writedowns
Citigroup to record another $11bn of losses, according to respected analyst.
US investment banks are poised to make further huge writedowns to their sub-prime related portfolios this week, as they report first quarter numbers.
Citigroup is expected to record a further $11bn (£5.6bn) of writedowns when it reports on Friday, according to one of the most influential analysts on Wall Street.
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