Jamesb101.com

commentary on Politics and a little bit of everything else

Citigroup loses $7.7 Billion in the 4thQ…but has repaid it's TARP loans…….

The bank said Tuesday it did see some early signs of improvement in its credit business although it still needed to set aside $8.18 billion to cover unpaid loans. That amount was down 10 percent from the third quarter, and 36 percent from a year earlier.

John Gerspach, Citigroup’s chief financial officer, reported one of those improving signs during a conference call with the media, noting that the number of mortgage and credit card loans that were newly delinquent, or between one and three months past due, had started to stabilize and even drop in some of its lending portfolios.

However, “the U.S. credit story is still very much developing,” Gerspach said.

Let’m pay the bonuses…the Govenmenet got it’s money back, with interest….good……

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January 19, 2010 - Posted by | Government, Law, Media, Other Things, Politics, The Economy, Updates | ,

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