Citi To Markets: The Worst Is Over

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Well, that's some good news. After yesterday's mess from Merrill, we were a bit frightened about what Citigroup would post this morning. But it turns out those rules of the road might be working.
Yes the bank didn't have any earnings. It had losses. But those losses were much smaller than expected. Write downs amounted to just $11.7 billion, which is what some tiny bank like Merril does every fifteen weeks.
Let the chorus of "the worst is over" begin!

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