{"id":196281,"date":"2008-05-11T06:12:00","date_gmt":"2008-05-11T11:12:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/05\/11\/citi-plans-to-dump-almost-half-a-trillion-in-assets\/"},"modified":"2008-05-11T06:12:00","modified_gmt":"2008-05-11T11:12:00","slug":"citi-plans-to-dump-almost-half-a-trillion-in-assets","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/05\/11\/citi-plans-to-dump-almost-half-a-trillion-in-assets\/","title":{"rendered":"Citi Plans to Dump Almost Half a Trillion in Assets"},"content":{"rendered":"<p>Their new (started last December) CEO <a href=\"http:\/\/money.cnn.com\/2008\/05\/09\/news\/companies\/citigroup\/index.htm?postversion=2008050909\">has announced a restructuring<\/a>, with the standard quote about getting back to &#8220;core&#8221; businesses.<\/p>\n<blockquote style=\"color: rgb(0, 0, 153);\"><p>Ultimately, Citigroup said it would get rid of roughly $500 billion in so-called legacy assets that currently make up about 22% of the company. Given the current market conditions, the company said it expected to wind down those assets to less than $100 billion over the next two to three years.<\/p><\/blockquote>\n<p>This is more than a refocus, this is going to be a significant amount of losses in order to raise capital and to get out of losing business.<\/p>\n<p>Of all the really big banks, Citi is the one that I am least confident in.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Their new (started last December) CEO has announced a restructuring, with the standard quote about getting back to &#8220;core&#8221; businesses. Ultimately, Citigroup said it would get rid of roughly $500 billion in so-called legacy assets that currently make up about 22% of the company. Given the current market conditions, the company said it expected to &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1005,1004],"tags":[],"class_list":["post-196281","post","type-post","status-publish","format-standard","hentry","category-business","category-finance"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/196281"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=196281"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/196281\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=196281"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=196281"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=196281"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}