Citigroup posts $5.1 billion loss due to hefty write-downs

Citigroup reports another quarterly loss after getting slammed by souring debt NEW YORK (AP) -- Citigroup Inc. said Friday it lost $5.1 billion during the first quarter as poor bets on mortgages and leveraged loans lopped ... More... (Mortgage Lender & Broker News, Mortgage News)
Add a Comment April 18th, 2008

US mortgage giant needs $1bn to survive

One of America's biggest home loan providers, Thornburg Mortgage, needs to raise nearly $1bn over the next seven business days in order to keep its creditors at bay. The New Mexico-based firm defaulted on $610m (£307m) ... More... (Mortgage News)
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