1.0 link 71458 <![CDATA[Citigroup Writedowns May Top $13.7 Billion]]> http://www.huffingtonpost.com/2007/11/06/citigroup-writedowns-may-_n_71458.html Citigroup Inc., the world's biggest bank, may have losses from asset-backed bonds of as much as $13.7 billion, roughly equal to the company's profit so far this year. The shares fell for a sixth straight day.

The bank may have to write down an additional $2.7 billion of subprime mortgage-backed and related securities, CreditSights Inc. said today. Citigroup said on Nov. 4 that securities it holds may have lost $11 billion of value, prompting rating companies to downgrade its credit and...

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