Saturday, April 18, 2009

Shitibank is full of it


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.

Voltron says: Citibank's earnings conference call was mostly jibberish, causing analysts to believe that they are trying to dazzle us with bullsh!t

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