Main | Tuesday, January 15, 2008

Subprime Losses Wrack Citigroup

The deepening banking crisis hits Manhattan hard with this news from Citigroup.
Citigroup plans to announce a writedown of as much as $24 billion and layoffs that could total as much as 24,000 due to subprime and credit-related losses, CNBC has learned. Citigroup plans to announce a $24 billion writedown and layoffs that could total as much as 24,000.
Slightly on the upside, apartment rents are dropping downtown as the financial meltdown continues.

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