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Politics : Welcome to Slider's Dugout -- Ignore unavailable to you. Want to Upgrade?

To: The Ox who wrote (6907)	11/6/2007 8:58:11 AM
From: jim_p	Read Replies (1) \| Respond to of 50232

globaleconomicanalysis.blogspot.com Level 3 assets at Citigroup exceed shareholder equity. Now take a look at level 2 assets sitting at $939 billion dollars. A mere 10% haircut in the value of those assets would eat up 74% of working capital. A 10% haircut in Level 2 assets in conjunction with steeper losses in level 3 assets would make Citigroup insolvent. Those focusing on the dividend picture at Citigroup (especially those who do not think that dividend will be cut) are sure focusing on the wrong picture. Citigroup is fighting for its financial life.