Citigroup posted a $2.5 billion gain from accounting rules that allow companies to profit when their own creditworthiness declines. The rules reflect the possibility that a company could buy back its own liabilities at a discount, which under traditional accounting methods would result in a profit.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=atwu65G62peY
Voltron says: Citibank's earnings conference call was mostly jibberish, causing analysts to believe that they are trying to dazzle us with bullsh!t
http://blogs.reuters.com/felix-salmon/2009/04/17/citigroups-horrible-conference-call/
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