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I'm far from being an economist and maybe thats why this shocks me, but Citigroup posted a 9+ billion dollar quarterly loss. Thats over $100 million per day every day. Wonder how long we would last in our professions w/ those kind of results?
Genius business model...give ANYONE w/ a pulse your goods and services on credit. Apply that to your job and scratch your head.
 

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what galls me is that the handful of idiot-savants in fixed-income origination who dreamed up this house of cards (derivative debt instruments based on sub-prime and alt-A mortgage paper) were paid HAND$OMELY to do so. the amount of shareholder wealth that has been utterly devastated as a result of their charade is truly mind-numbing
It looks like 17,000 people will be losing their jobs as an attempt to right the ship. Bad show


It is really infuriating to me.
 

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citibank

if a stack of 100 $100 bills is an inch think then it would take a stack of hundred dollar bills 28.4 miles high to make 18 billion!!

Andy
on the Jiggs and Barbara
 
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