About

Archives

Categories

Subscribe to this blog's feed
Blog powered by Typepad

Please Read Disclaimer.

  • THE CONTENTS OF THIS BLOG DO NOT MAKE AN ATTORNEY-CLIENT OR OTHER PROFESSIONAL RELATIONSHIP.
    The information provided on this site is informational, only. No legal advice is given and no attorney/client or other relationship is established or intended. We are independent of cross links and do not warrant their accuracy or applicability. We are located in Florida and comply with all ethical rules of the Florida Bar. Some States may require the word, "Advertisement," or similar words to appear. No professional relationship will be deemed to exist unless and until an agreement in writing for professional services has been signed by both client and Mr. Wall after appropriate interviews and conflict checks.

Google Search This Site

  • Google Search This Site!
    Google

    WWW
    insuranceclaimsissues.typepad.com

« Premium, Claim, Rescission of Health Insurance in California: Lawsuit. | Main | Federal Administration, Big Insurers Want Price Hike Options Before 2008 Hurricanes. »

April 23, 2008

Bond Insurance Companies Pull Down Citigroup Financial Results.

    Citigroup lost $5,100,000,000.00 or $5.1 Billion in 1Q2008.  Since the first day of 2008, Citigroup has also announced 13,200 related job eliminations.  In the 1Q2008, Citigroup further reported downgrading $6,000,000,000.00 or $6 Billion on subprime mortgages and another $1.5 Billion "related to exposure to bond insurers," among other markdowns to zero.  The role of Bond Insurance Companies in shaping the continuing financial free-fall is no longer the largest, but it is significant still.  Associated Press Copyrighted Story Published Online by the Los Angeles Times, "Citigroup Reports $5.1 Billion Loss on Hefty Write-Downs," Friday, April 18, 2008.

Please Read The Disclaimer.

Posted by on April 23, 2008 at 05:48 AM in Market Performance |

Comments

The comments to this entry are closed.