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Strategies & Market Trends : ahhaha's ahs

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To: GraceZ who wrote (3760)	12/3/2001 4:36:00 PM
From: Ahda	Read Replies (1) of 24758

yahoo.smartmoney.com An Argentine default would be a blow to Citigroup (C) and J.P. Morgan (JPM), the Dow's two banking components already facing hundreds of millions of dollars in losses on the money they lent to Enron. The pair has trimmed their exposure to Argentina to less than 2% of earnings in the case of Citigroup and less than $900 million for J.P. Morgan, according to a recent Lehman Brothers estimate. But the banks remain vulnerable to the prospect that Argentina's troubles will prompt a run on other borrowers as well. Citigroup shares fell 2%, while J.P. Morgan's helped drag down the Dow with a 3% loss.

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