{"id":197726,"date":"2008-01-15T22:07:00","date_gmt":"2008-01-16T03:07:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/01\/15\/citicorp-melt-down\/"},"modified":"2008-01-15T22:07:00","modified_gmt":"2008-01-16T03:07:00","slug":"citicorp-melt-down","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/01\/15\/citicorp-melt-down\/","title":{"rendered":"Citicorp Melt Down"},"content":{"rendered":"<p>The <a href=\"http:\/\/www.nytimes.com\/2008\/01\/15\/business\/16citi.html?_r=1&amp;hp&amp;oref=slogin\">New York Times<\/a> and <a href=\"http:\/\/www.forbes.com\/home\/markets\/2008\/01\/15\/citigroup-merrill-mortgage-markets-equity-cx_er_0115markets11.html\">Forbes<\/a> have reported that it has over $18 billion in write-offs, resulting in $9.83 billion in losses.<\/p>\n<p>The job cuts, looking to be as high as 10% of the workforce, are normal during a problem, but they have cut the dividend on their stock, which indicates far deeper problems<sup>*<\/sup>.<\/p>\n<p>Citibank is in real trouble, and I think that foreign investors will snap up an even bigger portion of the company, <span style=\"font-weight: bold;\">assuming that they can be found<\/span>.<\/p>\n<p><sup>*<\/sup><span style=\"font-size:85%;\">Of course, the fact that in business cutting jobs and putting people out on the street is normal, and cutting dividends is outrageous and extreme indicates just how f%$#ed up the values are of American business.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The New York Times and Forbes have reported that it has over $18 billion in write-offs, resulting in $9.83 billion in losses. The job cuts, looking to be as high as 10% of the workforce, are normal during a problem, but they have cut the dividend on their stock, which indicates far deeper problems*. Citibank &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1261,973,1004],"tags":[],"class_list":["post-197726","post","type-post","status-publish","format-standard","hentry","category-bubble","category-economy","category-finance"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/197726"}],"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=197726"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/197726\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=197726"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=197726"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=197726"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}