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<channel>
	<title>Credit Writedowns &#187; Citigroup</title>
	<atom:link href="http://www.creditwritedowns.com/tag/citigroup/feed/" rel="self" type="application/rss+xml" />
	<link>http://www.creditwritedowns.com</link>
	<description>Finance, Economics and Markets</description>
	<lastBuildDate>Thu, 09 Feb 2012 05:30:49 +0000</lastBuildDate>
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		<item>
		<title>John Reed on Big Banks and Corporatism</title>
		<link>http://www.creditwritedowns.com/2012/02/john-reed-on-big-banks-and-corporatism.html</link>
		<comments>http://www.creditwritedowns.com/2012/02/john-reed-on-big-banks-and-corporatism.html#comments</comments>
		<pubDate>Thu, 02 Feb 2012 04:00:28 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Financial Institutions]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[Citigroup]]></category>
		<category><![CDATA[corporatism]]></category>
		<category><![CDATA[history]]></category>
		<category><![CDATA[regulation]]></category>
		<category><![CDATA[regulatory capture]]></category>

		<guid isPermaLink="false">http://www.creditwritedowns.com/?p=41550</guid>
		<description><![CDATA[<p>Bill Moyers talks to former Citicorp and Citigroup head John Reed about what's wrong in the banking sector. John Reed readily acknowledges his role in bringing down the Glass-Steagall Act (Hat tip finance Addict)</p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
<br >Also read our <a href="http://www.creditwritedowns.com/news-feed/">News Feed</a> for the latest financial and economic news.
<br ><a href="http://www.creditwritedowns.com/2012/02/john-reed-on-big-banks-and-corporatism.html">John Reed on Big Banks and Corporatism</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
<br /> <br />Links: <a href="http://www.creditwritedowns.com/feed">RSS</a> - <a href="http://eepurl.com/hfF3U">Daily</a> - <a href="http://eepurl.com/eklTA">Weekly</a> - <a href="http://twitter.com/edwardnh">Twitter</a> - <a href="http://www.facebook.com/creditwritedowns">Facebook</a> - <a href="http://www.creditwritedowns.com/contact">Contact</a>
<br /><small>Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1</small></p><strong>Related Posts</strong>
<ul>
		<li><a href="http://www.creditwritedowns.com/2011/03/a-brief-note-on-corporatism.html" rel="bookmark">A brief note on Corporatism</a> 10 Mar 2011<!-- (21.8)--></li>
		<li><a href="http://www.creditwritedowns.com/2011/04/corporatism-and-the-boston-tea-party.html" rel="bookmark">Corporatism and the Boston Tea Party</a> 8 Apr 2011<!-- (21.5)--></li>
		<li><a href="http://www.creditwritedowns.com/2011/03/the-revolving-door-of-corporatism-continues.html" rel="bookmark">The Revolving Door of Corporatism Continues</a> 16 Mar 2011<!-- (21.3)--></li>
	</ul>
]]></description>
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		<slash:comments>4</slash:comments>
		</item>
		<item>
		<title>The SEC&#8217;s Day in Court</title>
		<link>http://www.creditwritedowns.com/2011/11/the-secs-day-in-court.html</link>
		<comments>http://www.creditwritedowns.com/2011/11/the-secs-day-in-court.html#comments</comments>
		<pubDate>Wed, 30 Nov 2011 23:51:26 +0000</pubDate>
		<dc:creator>Frederick Sheehan</dc:creator>
				<category><![CDATA[Financial Institutions]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[Citigroup]]></category>
		<category><![CDATA[corporatism]]></category>
		<category><![CDATA[law]]></category>
		<category><![CDATA[mortgage-backed securities]]></category>
		<category><![CDATA[regulatory capture]]></category>

		<guid isPermaLink="false">http://www.creditwritedowns.com/?p=37559</guid>
		<description><![CDATA[<p>Judge Jed S. Rakoff of the United States District Courts of the Southern District of New York struck a blow against the Securities and Exchange Commission and in support of the "public interest." The Securities and Exchange Commission had asked the Court to approve a Consent Judgment between Citigroup and the S.E.C. Judge Rakoff (cutting to the chase) wrote he could not do so</p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
<br >Also read our <a href="http://www.creditwritedowns.com/news-feed/">News Feed</a> for the latest financial and economic news.
<br ><a href="http://www.creditwritedowns.com/2011/11/the-secs-day-in-court.html">The SEC&#8217;s Day in Court</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
<br /> <br />Links: <a href="http://www.creditwritedowns.com/feed">RSS</a> - <a href="http://eepurl.com/hfF3U">Daily</a> - <a href="http://eepurl.com/eklTA">Weekly</a> - <a href="http://twitter.com/edwardnh">Twitter</a> - <a href="http://www.facebook.com/creditwritedowns">Facebook</a> - <a href="http://www.creditwritedowns.com/contact">Contact</a>
<br /><small>Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1</small></p><strong>Related Posts</strong>
<ul>
		<li><a href="http://www.creditwritedowns.com/2011/06/german-constitutional-court-parliament.html" rel="bookmark">German Constitutional Court and Parliament on euro zone aid</a> 14 Jun 2011<!-- (22.1)--></li>
	</ul>
]]></description>
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		<slash:comments>4</slash:comments>
		</item>
		<item>
		<title>In defense of the SEC &#8212; no, really</title>
		<link>http://www.creditwritedowns.com/2011/11/in-defense-of-the-sec.html</link>
		<comments>http://www.creditwritedowns.com/2011/11/in-defense-of-the-sec.html#comments</comments>
		<pubDate>Mon, 14 Nov 2011 18:15:00 +0000</pubDate>
		<dc:creator>Guest Author</dc:creator>
				<category><![CDATA[Financial Institutions]]></category>
		<category><![CDATA[Citigroup]]></category>
		<category><![CDATA[corporatism]]></category>
		<category><![CDATA[fraud]]></category>
		<category><![CDATA[regulation]]></category>

		<guid isPermaLink="false">http://www.creditwritedowns.com/?p=35932</guid>
		<description><![CDATA[<p>The Finance Addict writes : "We need to put our cynic hats on and start questioning why it is that the SEC isn’t getting any. My guess–it’s no accident."</p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
<br >Also read our <a href="http://www.creditwritedowns.com/news-feed/">News Feed</a> for the latest financial and economic news.
<br ><a href="http://www.creditwritedowns.com/2011/11/in-defense-of-the-sec.html">In defense of the SEC &#8212; no, really</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
<br /> <br />Links: <a href="http://www.creditwritedowns.com/feed">RSS</a> - <a href="http://eepurl.com/hfF3U">Daily</a> - <a href="http://eepurl.com/eklTA">Weekly</a> - <a href="http://twitter.com/edwardnh">Twitter</a> - <a href="http://www.facebook.com/creditwritedowns">Facebook</a> - <a href="http://www.creditwritedowns.com/contact">Contact</a>
<br /><small>Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1</small></p><strong>Related Posts</strong>
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		<li><a href="http://www.creditwritedowns.com/2009/09/guest-post-regulation-in-defense-of-capitalism.html" rel="bookmark">Regulation in Defense of Capitalism</a> 18 Sep 2009<!-- (23.2)--></li>
		<li><a href="http://www.creditwritedowns.com/2010/01/the-housing-bubble-in-bernankes-defense.html" rel="bookmark">The housing bubble: In Bernanke&#8217;s defense?</a> 9 Jan 2010<!-- (23)--></li>
	</ul>
]]></description>
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		<slash:comments>2</slash:comments>
		</item>
		<item>
		<title>Plus ça change &#8211; LDC edition</title>
		<link>http://www.creditwritedowns.com/2011/06/citicorps-1991-bailout.html</link>
		<comments>http://www.creditwritedowns.com/2011/06/citicorps-1991-bailout.html#comments</comments>
		<pubDate>Mon, 27 Jun 2011 13:30:06 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Financial Institutions]]></category>
		<category><![CDATA[bailouts]]></category>
		<category><![CDATA[Citigroup]]></category>
		<category><![CDATA[credit crisis]]></category>
		<category><![CDATA[Federal Reserve]]></category>
		<category><![CDATA[financial history]]></category>
		<category><![CDATA[interest rates]]></category>

		<guid isPermaLink="false">http://www.creditwritedowns.com/?p=29084</guid>
		<description><![CDATA[<p>This blurb from Paul Krugman and Robin Wells' review of Jeff Madrick's book on the credit crisis sums up why the busts keep getting bigger</p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
<br >Also read our <a href="http://www.creditwritedowns.com/news-feed/">News Feed</a> for the latest financial and economic news.
<br ><a href="http://www.creditwritedowns.com/2011/06/citicorps-1991-bailout.html">Plus ça change &#8211; LDC edition</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
<br /> <br />Links: <a href="http://www.creditwritedowns.com/feed">RSS</a> - <a href="http://eepurl.com/hfF3U">Daily</a> - <a href="http://eepurl.com/eklTA">Weekly</a> - <a href="http://twitter.com/edwardnh">Twitter</a> - <a href="http://www.facebook.com/creditwritedowns">Facebook</a> - <a href="http://www.creditwritedowns.com/contact">Contact</a>
<br /><small>Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1</small></p><strong>Related Posts</strong>
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		<li><a href="http://www.creditwritedowns.com/2011/05/catalysts-for-change-in-the-fx-driver.html" rel="bookmark">Catalysts for Change in the FX Driver</a> 2 May 2011<!-- (17.4)--></li>
		<li><a href="http://www.creditwritedowns.com/2010/05/links-2010-05-10-european-shock-and-awe-edition.html" rel="bookmark">Links: 2010-05-10 European Shock and Awe Edition</a> 10 May 2010<!-- (17.3)--></li>
	</ul>
]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Simon Johnson: &#8216;We have done nothing that will prevent this from happening again&#8217;</title>
		<link>http://www.creditwritedowns.com/2011/04/simon-johnson-on-large-financial-institutions.html</link>
		<comments>http://www.creditwritedowns.com/2011/04/simon-johnson-on-large-financial-institutions.html#comments</comments>
		<pubDate>Mon, 18 Apr 2011 11:30:00 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Financial Institutions]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[Citigroup]]></category>
		<category><![CDATA[JPMorgan]]></category>
		<category><![CDATA[regulation]]></category>
		<category><![CDATA[Simon Johnson]]></category>
		<category><![CDATA[too big to fail]]></category>

		<guid isPermaLink="false">http://www.creditwritedowns.com/?p=27594</guid>
		<description><![CDATA[<p><p>Here's the question: Can sovereignty and effective international supervision be reconciled when it comes to complex large financial institutions? Simon Johnson lays out a compelling case that they cannot. As he has said time and again, there is no meaningful resolution authority capable of dealing with large complex cross-border institutions like Lehman Brothers. We either let them fail like Lehman or bail them out.</p>

<p>Meanwhile people like Tim Geithner are arguing that <a href="http://www.creditwritedowns.com/2011/03/geithner-we-need-big-banks-to-be-even-bigger.html">financial institutions should be allowed to get even bigger</a>.</p>

<p>Video below.</p</p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
<br >Also read our <a href="http://www.creditwritedowns.com/news-feed/">News Feed</a> for the latest financial and economic news.
<br ><a href="http://www.creditwritedowns.com/2011/04/simon-johnson-on-large-financial-institutions.html">Simon Johnson: &#8216;We have done nothing that will prevent this from happening again&#8217;</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
<br /> <br />Links: <a href="http://www.creditwritedowns.com/feed">RSS</a> - <a href="http://eepurl.com/hfF3U">Daily</a> - <a href="http://eepurl.com/eklTA">Weekly</a> - <a href="http://twitter.com/edwardnh">Twitter</a> - <a href="http://www.facebook.com/creditwritedowns">Facebook</a> - <a href="http://www.creditwritedowns.com/contact">Contact</a>
<br /><small>Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1</small></p><strong>Related Posts</strong>
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		<li><a href="http://www.creditwritedowns.com/2011/04/simon-johnson-u-s-banks-need-more-capital.html" rel="bookmark">Simon Johnson: U.S. Banks Need More Capital</a> 12 Apr 2011<!-- (45)--></li>
		<li><a href="http://www.creditwritedowns.com/2010/09/simon-johnson-tarp-was-a-missed-opportunity.html" rel="bookmark">Simon Johnson: TARP was a missed opportunity</a> 30 Sep 2010<!-- (44.6)--></li>
		<li><a href="http://www.creditwritedowns.com/2009/04/simon-johnson-too-big-to-fail-is-too-big-to-exist.html" rel="bookmark">Simon Johnson: Too big to fail is &#8220;too big to exist&#8221;</a> 21 Apr 2009<!-- (44)--></li>
	</ul>
]]></description>
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		<slash:comments>2</slash:comments>
		</item>
		<item>
		<title>Black Says `Major Frauds&#8217; Continue at Mortgage Companies</title>
		<link>http://www.creditwritedowns.com/2010/10/black-says-major-frauds-continue-at-mortgage-companies.html</link>
		<comments>http://www.creditwritedowns.com/2010/10/black-says-major-frauds-continue-at-mortgage-companies.html#comments</comments>
		<pubDate>Tue, 26 Oct 2010 13:30:53 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Housing]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[Citigroup]]></category>
		<category><![CDATA[control fraud]]></category>
		<category><![CDATA[law]]></category>
		<category><![CDATA[mortgages]]></category>

		<guid isPermaLink="false">http://www.creditwritedowns.com/?p=21630</guid>
		<description><![CDATA[<p>Short clip below. Regarding the comments about Citi, see this article here. This is not new news because Bowen testified in April (see here). Yet, nothing was done in the intervening six months until the foreclosure crisis precipitated damage control. Update: Here is a second video that includes Bill Black talking to Dylan Ratigan on </p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
<br >Also read our <a href="http://www.creditwritedowns.com/news-feed/">News Feed</a> for the latest financial and economic news.
<br ><a href="http://www.creditwritedowns.com/2010/10/black-says-major-frauds-continue-at-mortgage-companies.html">Black Says `Major Frauds&#8217; Continue at Mortgage Companies</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
<br /> <br />Links: <a href="http://www.creditwritedowns.com/feed">RSS</a> - <a href="http://eepurl.com/hfF3U">Daily</a> - <a href="http://eepurl.com/eklTA">Weekly</a> - <a href="http://twitter.com/edwardnh">Twitter</a> - <a href="http://www.facebook.com/creditwritedowns">Facebook</a> - <a href="http://www.creditwritedowns.com/contact">Contact</a>
<br /><small>Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1</small></p><strong>Related Posts</strong>
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	</ul>
]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Citigroup&#8217;s Chuck Prince confirms that risky behaviour drives out prudent when risk is rewarded</title>
		<link>http://www.creditwritedowns.com/2010/04/citigroups-chuck-prince-confirms-that-risky-behavior-drives-out-prudent-when-risk-is-rewarded.html</link>
		<comments>http://www.creditwritedowns.com/2010/04/citigroups-chuck-prince-confirms-that-risky-behavior-drives-out-prudent-when-risk-is-rewarded.html#comments</comments>
		<pubDate>Fri, 09 Apr 2010 02:07:40 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Financial Institutions]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[Citigroup]]></category>
		<category><![CDATA[fraud]]></category>
		<category><![CDATA[interest rates]]></category>
		<category><![CDATA[regulation]]></category>

		<guid isPermaLink="false">http://www.creditwritedowns.com/2010/04/citigroups-chuck-prince-confirms-that-risky-behavior-drives-out-prudent-when-risk-is-rewarded.html</guid>
		<description><![CDATA[<p>Former Citigroup CEO Chuck Prince made what could be considered the most infamous statement of this credit crisis when he said: &#34;as long as the music is playing, you&#8217;ve got to get up and dance. We&#8217;re still dancing.&#34; -Citi Chief on Buyouts: ‘We’re Still Dancing’, DealBook, July 2007 This statement was correctly interpreted as a </p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
<br >Also read our <a href="http://www.creditwritedowns.com/news-feed/">News Feed</a> for the latest financial and economic news.
<br ><a href="http://www.creditwritedowns.com/2010/04/citigroups-chuck-prince-confirms-that-risky-behavior-drives-out-prudent-when-risk-is-rewarded.html">Citigroup&#8217;s Chuck Prince confirms that risky behaviour drives out prudent when risk is rewarded</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
<br /> <br />Links: <a href="http://www.creditwritedowns.com/feed">RSS</a> - <a href="http://eepurl.com/hfF3U">Daily</a> - <a href="http://eepurl.com/eklTA">Weekly</a> - <a href="http://twitter.com/edwardnh">Twitter</a> - <a href="http://www.facebook.com/creditwritedowns">Facebook</a> - <a href="http://www.creditwritedowns.com/contact">Contact</a>
<br /><small>Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1</small></p><strong>Related Posts</strong>
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	</ul>
]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Citigroup can limit demand deposit withdrawals and money funds can too</title>
		<link>http://www.creditwritedowns.com/2010/02/citigroup-can-limit-demand-deposit-withdrawals-and-money-funds-can-too.html</link>
		<comments>http://www.creditwritedowns.com/2010/02/citigroup-can-limit-demand-deposit-withdrawals-and-money-funds-can-too.html#comments</comments>
		<pubDate>Sun, 21 Feb 2010 14:52:18 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Financial Institutions]]></category>
		<category><![CDATA[bank run]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[Citigroup]]></category>
		<category><![CDATA[corruption]]></category>
		<category><![CDATA[law]]></category>
		<category><![CDATA[Lehman]]></category>

		<guid isPermaLink="false">http://www.creditwritedowns.com/2010/02/citigroup-can-limit-demand-deposit-withdrawals-and-money-funds-can-too.html</guid>
		<description><![CDATA[<p>Apparently, some of the ‘best reforms’ now being instituted in the U.S. to prevent a liquidity crisis in the future include limitations on demand deposits (hat tip Karl Denninger). What financial institutions are trying to prevent is a bank run in whatever form it can take &#8211; via depositors in the case of IndyMac and </p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
<br >Also read our <a href="http://www.creditwritedowns.com/news-feed/">News Feed</a> for the latest financial and economic news.
<br ><a href="http://www.creditwritedowns.com/2010/02/citigroup-can-limit-demand-deposit-withdrawals-and-money-funds-can-too.html">Citigroup can limit demand deposit withdrawals and money funds can too</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
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<br /><small>Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1</small></p><strong>Related Posts</strong>
<ul>
		<li><a href="http://www.creditwritedowns.com/2010/01/sec-may-limit-disclosure-on-aig-until-2018.html" rel="bookmark">SEC may limit disclosure on AIG until 2018</a> 12 Jan 2010<!-- (25.2)--></li>
		<li><a href="http://www.creditwritedowns.com/2008/11/chart-of-the-day-citigroup.html" rel="bookmark">Chart of the Day: Citigroup</a> 20 Nov 2008<!-- (20.8)--></li>
		<li><a href="http://www.creditwritedowns.com/2008/11/citigroup-panics-banking-confidence-bailouts-and-fractional-reserves.html" rel="bookmark">Citigroup: Panics, Banking Confidence, Bailouts and Fractional Reserves</a> 23 Nov 2008<!-- (20.8)--></li>
	</ul>
]]></description>
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		<slash:comments>17</slash:comments>
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		<title>Short sale fraud</title>
		<link>http://www.creditwritedowns.com/2010/01/short-sale-fraud.html</link>
		<comments>http://www.creditwritedowns.com/2010/01/short-sale-fraud.html#comments</comments>
		<pubDate>Wed, 20 Jan 2010 22:28:25 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Housing]]></category>
		<category><![CDATA[asset-based economy]]></category>
		<category><![CDATA[Bank of America]]></category>
		<category><![CDATA[bankruptcy]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[Citigroup]]></category>
		<category><![CDATA[foreclosure]]></category>
		<category><![CDATA[Jim The Realtor]]></category>
		<category><![CDATA[JPMorgan]]></category>
		<category><![CDATA[law]]></category>
		<category><![CDATA[mortgages]]></category>
		<category><![CDATA[property]]></category>
		<category><![CDATA[regionals]]></category>
		<category><![CDATA[Wells Fargo]]></category>

		<guid isPermaLink="false">http://www.creditwritedowns.com/2010/01/short-sale-fraud.html</guid>
		<description><![CDATA[<p>CNBC&#8217;s Diana Olick has the breaking story on alleged fraud in the mortgage industry. She has been writing about this for a few days now.&#160; See Big Banks Accused of Short Sale Fraud &#8211; Realty Check with Diana Olick at CNBC’s website. Basically, second liens on properties like home equity loans have a blocking interest </p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
<br >Also read our <a href="http://www.creditwritedowns.com/news-feed/">News Feed</a> for the latest financial and economic news.
<br ><a href="http://www.creditwritedowns.com/2010/01/short-sale-fraud.html">Short sale fraud</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
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<br /><small>Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1</small></p><strong>Related Posts</strong>
<ul>
		<li><a href="http://www.creditwritedowns.com/2008/06/lehman-brothers-to-post-3-bln-loss-sets.html" rel="bookmark">Lehman Brothers to post $3 bln loss; sets $6 bln stock sale</a> 9 Jun 2008<!-- (21.2)--></li>
		<li><a href="http://www.creditwritedowns.com/2009/07/cruising-foreclosures-reo-and-short-sales-with-jim-the-realtor.html" rel="bookmark">Cruising foreclosures, REO and short sales with Jim the Realtor</a> 21 Jul 2009<!-- (20.7)--></li>
		<li><a href="http://www.creditwritedowns.com/2008/07/is-short-covering-rally-over.html" rel="bookmark">Is the short covering rally over?</a> 24 Jul 2008<!-- (20)--></li>
	</ul>
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		<slash:comments>0</slash:comments>
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		<title>On releasing Citi from TARP and banking by accounting subterfuge</title>
		<link>http://www.creditwritedowns.com/2009/12/on-releasing-citi-from-tarp-and-banking-by-accounting-subterfuge.html</link>
		<comments>http://www.creditwritedowns.com/2009/12/on-releasing-citi-from-tarp-and-banking-by-accounting-subterfuge.html#comments</comments>
		<pubDate>Thu, 17 Dec 2009 16:54:41 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Financial Institutions]]></category>
		<category><![CDATA[accounting]]></category>
		<category><![CDATA[bailouts]]></category>
		<category><![CDATA[Citigroup]]></category>
		<category><![CDATA[corruption]]></category>
		<category><![CDATA[financial statements]]></category>
		<category><![CDATA[nationalization]]></category>
		<category><![CDATA[regulation]]></category>
		<category><![CDATA[stress tests]]></category>

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		<description><![CDATA[<p>Credit Writedowns has made it clear how little will there is in Washington for substantive reform in financial services.&#160; But, let’s be more explicit in this post about what policy makers are doing.&#160; I will use the recent Citigroup TARP brouhaha and changes to the implementation timetable of accounting rules as the vehicle for this </p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
<br >Also read our <a href="http://www.creditwritedowns.com/news-feed/">News Feed</a> for the latest financial and economic news.
<br ><a href="http://www.creditwritedowns.com/2009/12/on-releasing-citi-from-tarp-and-banking-by-accounting-subterfuge.html">On releasing Citi from TARP and banking by accounting subterfuge</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
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<br /><small>Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1</small></p><strong>Related Posts</strong>
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		<li><a href="http://www.creditwritedowns.com/2008/09/regionals-options-suffer-due-to.html" rel="bookmark">Regionals options suffer due to accounting rules</a> 10 Sep 2008<!-- (23.3)--></li>
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	</ul>
]]></description>
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		<slash:comments>1</slash:comments>
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		<title>U.S. forfeiting billions in future taxes to let Citi repay TARP</title>
		<link>http://www.creditwritedowns.com/2009/12/u-s-forfeiting-billions-in-future-taxes-to-let-citi-repay-tarp.html</link>
		<comments>http://www.creditwritedowns.com/2009/12/u-s-forfeiting-billions-in-future-taxes-to-let-citi-repay-tarp.html#comments</comments>
		<pubDate>Wed, 16 Dec 2009 05:50:39 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Financial Institutions]]></category>
		<category><![CDATA[accounting]]></category>
		<category><![CDATA[bailouts]]></category>
		<category><![CDATA[capital]]></category>
		<category><![CDATA[Citigroup]]></category>
		<category><![CDATA[corruption]]></category>
		<category><![CDATA[credit crisis]]></category>
		<category><![CDATA[financial statements]]></category>
		<category><![CDATA[government]]></category>

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		<description><![CDATA[<p>The Washington Post is reporting that the federal government has quietly decided to exempt Citigroup from a large future tax bill in allowing it to exit the TARP program.&#160; This is a backdoor bailout worth billions and is an outrage that demonstrates the lengths to which government will go to gift these organizations taxpayer money. </p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
<br >Also read our <a href="http://www.creditwritedowns.com/news-feed/">News Feed</a> for the latest financial and economic news.
<br ><a href="http://www.creditwritedowns.com/2009/12/u-s-forfeiting-billions-in-future-taxes-to-let-citi-repay-tarp.html">U.S. forfeiting billions in future taxes to let Citi repay TARP</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
<br /> <br />Links: <a href="http://www.creditwritedowns.com/feed">RSS</a> - <a href="http://eepurl.com/hfF3U">Daily</a> - <a href="http://eepurl.com/eklTA">Weekly</a> - <a href="http://twitter.com/edwardnh">Twitter</a> - <a href="http://www.facebook.com/creditwritedowns">Facebook</a> - <a href="http://www.creditwritedowns.com/contact">Contact</a>
<br /><small>Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1</small></p><strong>Related Posts</strong>
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		<li><a href="http://www.creditwritedowns.com/2009/12/wells-fargo-becomes-last-of-big-banks-to-repay-tarp.html" rel="bookmark">Wells Fargo becomes last of big banks to repay TARP</a> 14 Dec 2009<!-- (43.8)--></li>
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	</ul>
]]></description>
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		<title>Video: Abu Dhabi bails out Dubai</title>
		<link>http://www.creditwritedowns.com/2009/12/video-abu-dhabi-bails-out-dubai.html</link>
		<comments>http://www.creditwritedowns.com/2009/12/video-abu-dhabi-bails-out-dubai.html#comments</comments>
		<pubDate>Mon, 14 Dec 2009 13:53:02 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Economy]]></category>
		<category><![CDATA[bailouts]]></category>
		<category><![CDATA[Citigroup]]></category>
		<category><![CDATA[credit crisis]]></category>
		<category><![CDATA[Dubai]]></category>
		<category><![CDATA[Greece]]></category>
		<category><![CDATA[journalism]]></category>
		<category><![CDATA[media]]></category>
		<category><![CDATA[Mideast]]></category>
		<category><![CDATA[video]]></category>
		<category><![CDATA[Willem Buiter]]></category>

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		<description><![CDATA[<p>There will be no Dubai sovereign default. The government of oil-rich Abu Dhabi surprised investors this morning in announcing a $10 billion rescue package to pay for upcoming obligations of embattled Dubai World. Below Richard Stovin-Bradford of the Financial Times speaks about Abu Dhabi’s decision to finally come to Dubai World’s rescue.&#160; I share his </p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
<br >Also read our <a href="http://www.creditwritedowns.com/news-feed/">News Feed</a> for the latest financial and economic news.
<br ><a href="http://www.creditwritedowns.com/2009/12/video-abu-dhabi-bails-out-dubai.html">Video: Abu Dhabi bails out Dubai</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
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<br /><small>Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1</small></p><strong>Related Posts</strong>
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		<li><a href="http://www.creditwritedowns.com/2009/02/dubai-bailed-out-by-abu-dhabi-after-property-bust.html" rel="bookmark">Dubai bailed out by Abu Dhabi after property bust</a> 22 Feb 2009<!-- (51.4)--></li>
		<li><a href="http://www.creditwritedowns.com/2009/11/the-bust-in-dubai-and-exogenous-shocks.html" rel="bookmark">The bust in Dubai and exogenous shocks</a> 27 Nov 2009<!-- (27)--></li>
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	</ul>
]]></description>
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		<title>Citi to repay $20 billion in bailout money</title>
		<link>http://www.creditwritedowns.com/2009/12/citi-to-repay-20-billion-in-bailout-money.html</link>
		<comments>http://www.creditwritedowns.com/2009/12/citi-to-repay-20-billion-in-bailout-money.html#comments</comments>
		<pubDate>Mon, 14 Dec 2009 13:32:43 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Financial Institutions]]></category>
		<category><![CDATA[bailouts]]></category>
		<category><![CDATA[capital]]></category>
		<category><![CDATA[Citigroup]]></category>
		<category><![CDATA[credit crisis]]></category>

		<guid isPermaLink="false">http://www.creditwritedowns.com/2009/12/citi-to-repay-20-billion-in-bailout-money.html</guid>
		<description><![CDATA[<p>Citigroup has confirmed it will repay $20 billion of the bailout money it has received from government, becoming the latest big bank to exit the TARP (troubled asset relief program). To prevent capital ratios from dipping, the company will issue $17 billion in new shares and $3.5 billion in new debt (“tangible equity units”) to </p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
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<br ><a href="http://www.creditwritedowns.com/2009/12/citi-to-repay-20-billion-in-bailout-money.html">Citi to repay $20 billion in bailout money</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
<br /> <br />Links: <a href="http://www.creditwritedowns.com/feed">RSS</a> - <a href="http://eepurl.com/hfF3U">Daily</a> - <a href="http://eepurl.com/eklTA">Weekly</a> - <a href="http://twitter.com/edwardnh">Twitter</a> - <a href="http://www.facebook.com/creditwritedowns">Facebook</a> - <a href="http://www.creditwritedowns.com/contact">Contact</a>
<br /><small>Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1</small></p><strong>Related Posts</strong>
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		<li><a href="http://www.creditwritedowns.com/2009/04/gm-and-chrysler-to-get-more-bailout-money.html" rel="bookmark">GM and Chrysler to get more bailout money</a> 21 Apr 2009<!-- (28)--></li>
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	</ul>
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		<title>Matt Taibbi: Obama&#8217;s Big Sellout</title>
		<link>http://www.creditwritedowns.com/2009/12/matt-taibbi-obamas-big-sellout.html</link>
		<comments>http://www.creditwritedowns.com/2009/12/matt-taibbi-obamas-big-sellout.html#comments</comments>
		<pubDate>Fri, 11 Dec 2009 14:17:53 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Political Economy]]></category>
		<category><![CDATA[bailouts]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[Barack Obama]]></category>
		<category><![CDATA[Citigroup]]></category>
		<category><![CDATA[corruption]]></category>
		<category><![CDATA[regulation]]></category>

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		<description><![CDATA[<p>Matt Taibbi is one of the few commentators in the mainstream media who is not worried about ‘access’ and has, therefore, been free to write much more critically about the economic crisis and reform efforts on Wall Street. His first piece was a polemic against Goldman Sachs, which triggered a backlash against the venerated Wall </p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
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<br ><a href="http://www.creditwritedowns.com/2009/12/matt-taibbi-obamas-big-sellout.html">Matt Taibbi: Obama&#8217;s Big Sellout</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
<br /> <br />Links: <a href="http://www.creditwritedowns.com/feed">RSS</a> - <a href="http://eepurl.com/hfF3U">Daily</a> - <a href="http://eepurl.com/eklTA">Weekly</a> - <a href="http://twitter.com/edwardnh">Twitter</a> - <a href="http://www.facebook.com/creditwritedowns">Facebook</a> - <a href="http://www.creditwritedowns.com/contact">Contact</a>
<br /><small>Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1</small></p><strong>Related Posts</strong>

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		<slash:comments>4</slash:comments>
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		<title>New Citigroup maven Buiter warns of sovereign debt delusion</title>
		<link>http://www.creditwritedowns.com/2009/11/new-citigroup-maven-buiter-warns-of-sovereign-debt-delusion.html</link>
		<comments>http://www.creditwritedowns.com/2009/11/new-citigroup-maven-buiter-warns-of-sovereign-debt-delusion.html#comments</comments>
		<pubDate>Mon, 30 Nov 2009 17:29:06 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Economy]]></category>
		<category><![CDATA[Austria]]></category>
		<category><![CDATA[Baltics]]></category>
		<category><![CDATA[bankruptcy]]></category>
		<category><![CDATA[bonds]]></category>
		<category><![CDATA[Citigroup]]></category>
		<category><![CDATA[currency peg]]></category>
		<category><![CDATA[Dubai]]></category>
		<category><![CDATA[Eastern Europe]]></category>
		<category><![CDATA[Europe]]></category>
		<category><![CDATA[Fiscal]]></category>
		<category><![CDATA[Greece]]></category>
		<category><![CDATA[Ireland]]></category>
		<category><![CDATA[Mideast]]></category>
		<category><![CDATA[Portugal]]></category>
		<category><![CDATA[ratings agencies]]></category>
		<category><![CDATA[sovereign credit ratings]]></category>
		<category><![CDATA[Spain]]></category>
		<category><![CDATA[Willem Buiter]]></category>

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		<description><![CDATA[<p>This post from November 2009 is a reminder of how things looked in the sovereign debt crisis just a few months ago</p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
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<br ><a href="http://www.creditwritedowns.com/2009/11/new-citigroup-maven-buiter-warns-of-sovereign-debt-delusion.html">New Citigroup maven Buiter warns of sovereign debt delusion</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
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<ul>
		<li><a href="http://www.creditwritedowns.com/2008/07/next-stop-us-sovereign-debt-downgrade.html" rel="bookmark">Next Stop: US sovereign debt downgrade</a> 16 Jul 2008<!-- (25.9)--></li>
		<li><a href="http://www.creditwritedowns.com/2008/12/macro-maven-expect-a-long-difficult-recession.html" rel="bookmark">Macro Maven: Expect a long difficult recession</a> 13 Dec 2008<!-- (25.8)--></li>
		<li><a href="http://www.creditwritedowns.com/2008/10/irish-sovereign-debt-interest-rate.html" rel="bookmark">Irish sovereign debt interest rate spreads</a> 31 Oct 2008<!-- (25.4)--></li>
	</ul>
]]></description>
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		<slash:comments>7</slash:comments>
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		<title>Credit Suisse cautious on Citigroup due to regulatory hurdles</title>
		<link>http://www.creditwritedowns.com/2009/11/credit-suisse-cautious-on-citigroup-due-to-regulatory-hurdles.html</link>
		<comments>http://www.creditwritedowns.com/2009/11/credit-suisse-cautious-on-citigroup-due-to-regulatory-hurdles.html#comments</comments>
		<pubDate>Wed, 18 Nov 2009 14:55:07 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Financial Institutions]]></category>
		<category><![CDATA[accounting]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[capital]]></category>
		<category><![CDATA[capital investment]]></category>
		<category><![CDATA[Citigroup]]></category>
		<category><![CDATA[financial statements]]></category>
		<category><![CDATA[investing]]></category>

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		<description><![CDATA[<p>Credit Suisse has a note out urging caution on Citigroup shares due to regulatory hurdles.&#160; Their logic bears noting as it can be useful for other U.S.-based banks. On Monday the CS analysts met with Citi management, who were somewhat cautious. The CS note indicates that regulatory changes in the U.S. are likely to mandate </p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
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<br ><a href="http://www.creditwritedowns.com/2009/11/credit-suisse-cautious-on-citigroup-due-to-regulatory-hurdles.html">Credit Suisse cautious on Citigroup due to regulatory hurdles</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
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		<li><a href="http://www.creditwritedowns.com/2008/07/ubs-and-credit-suisse-must-pony-up-70.html" rel="bookmark">UBS and Credit Suisse must pony up $70 billion</a> 6 Jul 2008<!-- (37.9)--></li>
		<li><a href="http://www.creditwritedowns.com/2009/03/credit-suisse-and-ubs-have-hands-out-for-more-capital.html" rel="bookmark">Credit Suisse and UBS have hands out for more capital</a> 24 Mar 2009<!-- (36.9)--></li>
		<li><a href="http://www.creditwritedowns.com/2009/11/how-well-capitalized-is-citigroup.html" rel="bookmark">How well capitalized is Citigroup?</a> 12 Nov 2009<!-- (22.7)--></li>
	</ul>
]]></description>
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		<slash:comments>0</slash:comments>
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		<item>
		<title>How well capitalized is Citigroup?</title>
		<link>http://www.creditwritedowns.com/2009/11/how-well-capitalized-is-citigroup.html</link>
		<comments>http://www.creditwritedowns.com/2009/11/how-well-capitalized-is-citigroup.html#comments</comments>
		<pubDate>Thu, 12 Nov 2009 20:44:33 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Financial Institutions]]></category>
		<category><![CDATA[accounting]]></category>
		<category><![CDATA[bailouts]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[Citigroup]]></category>
		<category><![CDATA[credit crisis]]></category>
		<category><![CDATA[financial statements]]></category>

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		<description><![CDATA[<p>In a recent post, “How is Citi going to deal with $38 billion in deferred tax assets?,” I pointed to a Reuters article which called into question Citigroup’s ability to earn enough money to prevent its having to take a charge for an incredibly large deferred tax asset. That post generated a response from a </p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
<br >Also read our <a href="http://www.creditwritedowns.com/news-feed/">News Feed</a> for the latest financial and economic news.
<br ><a href="http://www.creditwritedowns.com/2009/11/how-well-capitalized-is-citigroup.html">How well capitalized is Citigroup?</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
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<br /><small>Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1</small></p><strong>Related Posts</strong>
<ul>
		<li><a href="http://www.creditwritedowns.com/2008/11/the-citigroup-bailout.html" rel="bookmark">The Citigroup Bailout</a> 24 Nov 2008<!-- (22.8)--></li>
		<li><a href="http://www.creditwritedowns.com/2008/11/citigroup-talks-with-us-government-as-bankruptcy-looms.html" rel="bookmark">Citigroup talks with US Government as bankruptcy looms</a> 22 Nov 2008<!-- (22.2)--></li>
		<li><a href="http://www.creditwritedowns.com/2008/11/the-citigroup-bailout-a-blogosphere-post-mortem.html" rel="bookmark">The Citigroup Bailout: a blogosphere post-mortem</a> 24 Nov 2008<!-- (22.2)--></li>
	</ul>
]]></description>
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		<slash:comments>2</slash:comments>
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		<title>How is Citi going to deal with $38 billion in deferred tax assets?</title>
		<link>http://www.creditwritedowns.com/2009/11/how-is-citi-going-to-deal-with-38-billion-in-deferred-tax-assets.html</link>
		<comments>http://www.creditwritedowns.com/2009/11/how-is-citi-going-to-deal-with-38-billion-in-deferred-tax-assets.html#comments</comments>
		<pubDate>Wed, 11 Nov 2009 20:01:11 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Financial Institutions]]></category>
		<category><![CDATA[accounting]]></category>
		<category><![CDATA[Bank of America]]></category>
		<category><![CDATA[Citigroup]]></category>
		<category><![CDATA[financial statements]]></category>

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		<description><![CDATA[<p>Citigroup has been losing tens of billions of dollars over the past two years as the financial crisis has unfolded. If one considers the government capital that Citi has not paid back, the bank is clearly the weakest of the four largest legacy banking behemoths in the United States. Earnings results this year demonstrate that </p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
<br >Also read our <a href="http://www.creditwritedowns.com/news-feed/">News Feed</a> for the latest financial and economic news.
<br ><a href="http://www.creditwritedowns.com/2009/11/how-is-citi-going-to-deal-with-38-billion-in-deferred-tax-assets.html">How is Citi going to deal with $38 billion in deferred tax assets?</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
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<br /><small>Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1</small></p><strong>Related Posts</strong>
<ul>
		<li><a href="http://www.creditwritedowns.com/2009/02/hypo-real-estate-600-billion-in-off-balance-sheet-assets.html" rel="bookmark">Hypo Real Estate: 600 billion in off-balance sheet assets</a> 20 Feb 2009<!-- (32)--></li>
		<li><a href="http://www.creditwritedowns.com/2009/01/citi-agrees-to-do-cram-downs.html" rel="bookmark">Citi agrees to do cramdowns</a> 8 Jan 2009<!-- (21.2)--></li>
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	</ul>
]]></description>
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		<title>Former Citi Chairman in favor of re-imposing Glass-Steagall</title>
		<link>http://www.creditwritedowns.com/2009/10/former-citi-chairman-in-favor-of-re-imposing-glass-steagall.html</link>
		<comments>http://www.creditwritedowns.com/2009/10/former-citi-chairman-in-favor-of-re-imposing-glass-steagall.html#comments</comments>
		<pubDate>Tue, 27 Oct 2009 23:09:36 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Financial Institutions]]></category>
		<category><![CDATA[Citigroup]]></category>
		<category><![CDATA[financial history]]></category>
		<category><![CDATA[regulation]]></category>
		<category><![CDATA[Volcker]]></category>

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		<description><![CDATA[<p>This comes via the NYTimes: To the Editor: Re “Volcker’s Voice, Often Heeded, Fails to Sell a Bank Strategy” (front page, Oct. 21): As another older banker and one who has experienced both the pre- and post-Glass-Steagall world, I would agree with Paul A. Volcker (and also Mervyn King, governor of the Bank of England) </p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
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<br ><a href="http://www.creditwritedowns.com/2009/10/former-citi-chairman-in-favor-of-re-imposing-glass-steagall.html">Former Citi Chairman in favor of re-imposing Glass-Steagall</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
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		<li><a href="http://www.creditwritedowns.com/2009/02/was-repealing-glass-steagall-the-cause-for-the-present-depression.html" rel="bookmark">Was repealing Glass-Steagall the cause for the present Depression?</a> 4 Feb 2009<!-- (47.6)--></li>
		<li><a href="http://www.creditwritedowns.com/2009/10/is-citi-being-forced-to-downsize-by-obama.html" rel="bookmark">Is Citi being forced to downsize by Obama?</a> 26 Oct 2009<!-- (21)--></li>
		<li><a href="http://www.creditwritedowns.com/2009/01/citi-agrees-to-do-cram-downs.html" rel="bookmark">Citi agrees to do cramdowns</a> 8 Jan 2009<!-- (20.2)--></li>
	</ul>
]]></description>
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		<slash:comments>0</slash:comments>
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		<title>Is Citi being forced to downsize by Obama?</title>
		<link>http://www.creditwritedowns.com/2009/10/is-citi-being-forced-to-downsize-by-obama.html</link>
		<comments>http://www.creditwritedowns.com/2009/10/is-citi-being-forced-to-downsize-by-obama.html#comments</comments>
		<pubDate>Tue, 27 Oct 2009 03:12:50 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Financial Institutions]]></category>
		<category><![CDATA[Bank of America]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[capital]]></category>
		<category><![CDATA[Charlie Rose]]></category>
		<category><![CDATA[Citigroup]]></category>
		<category><![CDATA[regulation]]></category>
		<category><![CDATA[Wells Fargo]]></category>

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		<description><![CDATA[<p>It seems that not a day goes by when you don’t hear about some asset sale in Citigroup’s far-flung empire. Of all the major too-big-to-fail institutions, it is easily the most troubled: the poster child for everything that is wrong in finance in America. But, when President Obama’s Pay Czar Kenneth Feinberg stepped in to </p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
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<br ><a href="http://www.creditwritedowns.com/2009/10/is-citi-being-forced-to-downsize-by-obama.html">Is Citi being forced to downsize by Obama?</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
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		<li><a href="http://www.creditwritedowns.com/2009/03/does-obama-have-the-legal-authority-to-take-over-citi.html" rel="bookmark">Does Obama have the legal authority to take over Citi?</a> 9 Mar 2009<!-- (33.9)--></li>
		<li><a href="http://www.creditwritedowns.com/2009/10/how-to-downsize-the-us-financial-sector.html" rel="bookmark">How to downsize the US financial sector</a> 16 Oct 2009<!-- (27.4)--></li>
		<li><a href="http://www.creditwritedowns.com/2009/05/bofa-citi-wells-and-gmac-biggest-losers-in-stress-test-leaks.html" rel="bookmark">BofA, Citi, Wells and GMAC biggest losers in stress test leaks</a> 6 May 2009<!-- (23)--></li>
	</ul>
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		<title>Citibank Belgium to pay &#8216;duped&#8217; savers 128mn for bad Lehman deal</title>
		<link>http://www.creditwritedowns.com/2009/10/citibank-belgium-to-pay-customers-128mn-for-bad-lehman-deal.html</link>
		<comments>http://www.creditwritedowns.com/2009/10/citibank-belgium-to-pay-customers-128mn-for-bad-lehman-deal.html#comments</comments>
		<pubDate>Sat, 24 Oct 2009 23:18:05 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Financial Institutions]]></category>
		<category><![CDATA[Belgium]]></category>
		<category><![CDATA[Citigroup]]></category>
		<category><![CDATA[law]]></category>
		<category><![CDATA[Lehman]]></category>

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		<description><![CDATA[<p>This is my translation of a Dutch-language article which appeared today in Belgian daily De Tijd. Let’s see if this news is picked up in the U.S. Citibank Belgium never should have recommended the controversial Lehman Brothers investments to its customers. So states the writ of the Brussels public prosecutor on the case. The collapse </p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
<br >Also read our <a href="http://www.creditwritedowns.com/news-feed/">News Feed</a> for the latest financial and economic news.
<br ><a href="http://www.creditwritedowns.com/2009/10/citibank-belgium-to-pay-customers-128mn-for-bad-lehman-deal.html">Citibank Belgium to pay &lsquo;duped&#8217; savers 128mn for bad Lehman deal</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
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		<li><a href="http://www.creditwritedowns.com/2009/02/citibank-has-cut-all-lending-in-denmark.html" rel="bookmark">Citibank has cut all lending in Denmark</a> 19 Feb 2009<!-- (24.4)--></li>
		<li><a href="http://www.creditwritedowns.com/2008/11/law-firm-confirms-disaster-at-lehman.html" rel="bookmark">Law firm confirms the disaster at Lehman</a> 12 Nov 2008<!-- (18.9)--></li>
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	</ul>
]]></description>
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		<title>Nationalized Citi Mexicana Redux</title>
		<link>http://www.creditwritedowns.com/2009/10/nationalized-citi-mexicana-redux.html</link>
		<comments>http://www.creditwritedowns.com/2009/10/nationalized-citi-mexicana-redux.html#comments</comments>
		<pubDate>Tue, 20 Oct 2009 22:17:08 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Political Economy]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[Barack Obama]]></category>
		<category><![CDATA[Citigroup]]></category>
		<category><![CDATA[government]]></category>
		<category><![CDATA[law]]></category>
		<category><![CDATA[Mexico]]></category>
		<category><![CDATA[nationalization]]></category>

		<guid isPermaLink="false">http://www.creditwritedowns.com/2009/10/nationalized-citi-mexicana-redux.html</guid>
		<description><![CDATA[<p>Back in March when the US Government felt compelled to bail out out Citigroup, Tracy Alloway over at FT Alphaville noticed a curious thing – Citigroup had effectively been nationalized. No, they were not seized by government, but Citi was controlled by government.&#160; The Feds had 36% of shares outstanding, which in many cases is </p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
<br >Also read our <a href="http://www.creditwritedowns.com/news-feed/">News Feed</a> for the latest financial and economic news.
<br ><a href="http://www.creditwritedowns.com/2009/10/nationalized-citi-mexicana-redux.html">Nationalized Citi Mexicana Redux</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
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		<li><a href="http://www.creditwritedowns.com/2008/10/quote-of-day-nationalized-banking.html" rel="bookmark">Nationalized banking predators</a> 27 Oct 2008<!-- (24.4)--></li>
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	</ul>
]]></description>
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		<title>JPMorgan has record revenue and $2.7 billion in profit</title>
		<link>http://www.creditwritedowns.com/2009/07/jpmorgan-has-record-revenue-and-2-7-billion-in-profit.html</link>
		<comments>http://www.creditwritedowns.com/2009/07/jpmorgan-has-record-revenue-and-2-7-billion-in-profit.html#comments</comments>
		<pubDate>Thu, 16 Jul 2009 14:06:10 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Financial Institutions]]></category>
		<category><![CDATA[Bank of America]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[Citigroup]]></category>
		<category><![CDATA[financial statements]]></category>
		<category><![CDATA[JPMorgan]]></category>

		<guid isPermaLink="false">http://www.creditwritedowns.com/2009/07/jpmorgan-has-record-revenue-and-2-7-billion-in-profit.html</guid>
		<description><![CDATA[<p>While Citi and BofA are getting taken to the woodshed for double secret probation, JPMorgan Chase is showing record revenue of $25.6 billion and a large profit of $2.7 billion.&#160; As profit is up 36% from a year earlier and 27% from just last quarter, you can see that JPM is now firing on all </p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
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<br ><a href="http://www.creditwritedowns.com/2009/07/jpmorgan-has-record-revenue-and-2-7-billion-in-profit.html">JPMorgan has record revenue and $2.7 billion in profit</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
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		<li><a href="http://www.creditwritedowns.com/2009/02/rbs-reports-a-record-loss-of-24-billion-pounds.html" rel="bookmark">RBS reports a record loss of 24 billion pounds</a> 26 Feb 2009<!-- (34.4)--></li>
		<li><a href="http://www.creditwritedowns.com/2009/01/jpmorgan-beats-expectations-despite-writedowns.html" rel="bookmark">JPMorgan: Beats expectations despite writedowns</a> 15 Jan 2009<!-- (25)--></li>
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	</ul>
]]></description>
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		<title>BofA, Citi, Wells and GMAC biggest losers in stress test leaks</title>
		<link>http://www.creditwritedowns.com/2009/05/bofa-citi-wells-and-gmac-biggest-losers-in-stress-test-leaks.html</link>
		<comments>http://www.creditwritedowns.com/2009/05/bofa-citi-wells-and-gmac-biggest-losers-in-stress-test-leaks.html#comments</comments>
		<pubDate>Wed, 06 May 2009 21:28:02 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Financial Institutions]]></category>
		<category><![CDATA[bailouts]]></category>
		<category><![CDATA[Bank of America]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[Charlie Rose]]></category>
		<category><![CDATA[Citigroup]]></category>
		<category><![CDATA[credit crisis]]></category>
		<category><![CDATA[crisis solutions]]></category>
		<category><![CDATA[stress tests]]></category>
		<category><![CDATA[Wells Fargo]]></category>

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		<description><![CDATA[<p>If you haven’t noticed, the Treasury department seems to be leaking the results of the stress tests to reporters at the Wall Street Journal.&#160; Richard Bove, a well-known bank analyst was on Bloomberg Radio this morning talking to Tom Keene and said he knows they have been leaking.&#160; Yves Smith was on top of this </p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
<br >Also read our <a href="http://www.creditwritedowns.com/news-feed/">News Feed</a> for the latest financial and economic news.
<br ><a href="http://www.creditwritedowns.com/2009/05/bofa-citi-wells-and-gmac-biggest-losers-in-stress-test-leaks.html">BofA, Citi, Wells and GMAC biggest losers in stress test leaks</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
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		<li><a href="http://www.creditwritedowns.com/2009/05/warren-buffett-wells-passes-my-own-stress-test.html" rel="bookmark">Warren Buffett: Wells passes my own stress test</a> 2 May 2009<!-- (60.8)--></li>
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		<li><a href="http://www.creditwritedowns.com/2008/07/merrill-and-citi-are-big-losers-this.html" rel="bookmark">Merrill and Citi are the big losers this season</a> 18 Jul 2008<!-- (46.2)--></li>
	</ul>
]]></description>
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		<title>Citigroup gets $7.8 Billion for Japanese unit</title>
		<link>http://www.creditwritedowns.com/2009/05/citigroup-gets-78-billion-for-japanese-unit.html</link>
		<comments>http://www.creditwritedowns.com/2009/05/citigroup-gets-78-billion-for-japanese-unit.html#comments</comments>
		<pubDate>Fri, 01 May 2009 13:59:48 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Financial Institutions]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[capital]]></category>
		<category><![CDATA[Citigroup]]></category>
		<category><![CDATA[mergers]]></category>

		<guid isPermaLink="false">http://www.creditwritedowns.com/?p=8343</guid>
		<description><![CDATA[<p>With the stress test results coming out, it is a wonderful thing for Citigroup that it has been able to sell its Japanese brokerage unit to Sumitomo Mitsui, and at a good price of $7.8 billion. Here&#8217;s an excerpt of the FT story: Citigroup on Friday sold its Japanese brokerage and some parts of its </p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
<br >Also read our <a href="http://www.creditwritedowns.com/news-feed/">News Feed</a> for the latest financial and economic news.
<br ><a href="http://www.creditwritedowns.com/2009/05/citigroup-gets-78-billion-for-japanese-unit.html">Citigroup gets $7.8 Billion for Japanese unit</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
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		<li><a href="http://www.creditwritedowns.com/2008/09/citigrop-grabs-wachovia-on-cheap.html" rel="bookmark">Citigroup grabs Wachovia on the cheap</a> 29 Sep 2008<!-- (21.3)--></li>
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	</ul>
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		<title>Stress tests reveal Citi and BofA need more capital, but you knew that already</title>
		<link>http://www.creditwritedowns.com/2009/04/stress-tests-reveal-citi-and-bofa-need-more-capital-but-you-knew-that-already.html</link>
		<comments>http://www.creditwritedowns.com/2009/04/stress-tests-reveal-citi-and-bofa-need-more-capital-but-you-knew-that-already.html#comments</comments>
		<pubDate>Tue, 28 Apr 2009 10:00:19 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Financial Institutions]]></category>
		<category><![CDATA[Bank of America]]></category>
		<category><![CDATA[capital]]></category>
		<category><![CDATA[Charlie Rose]]></category>
		<category><![CDATA[Citigroup]]></category>
		<category><![CDATA[credit crisis]]></category>
		<category><![CDATA[crisis solutions]]></category>
		<category><![CDATA[stress tests]]></category>

		<guid isPermaLink="false">http://www.creditwritedowns.com/?p=8160</guid>
		<description><![CDATA[<p>The leaks about who failed the stress tests are already starting.  Who got a big fat &#8216;F&#8217;?  Apparently, Citi and BofA for starters.  But is that any surprise? Regulators have told Bank of America Corp. and Citigroup Inc. that the banks may need to raise more capital based on early results of the government&#8217;s so-called </p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
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<br ><a href="http://www.creditwritedowns.com/2009/04/stress-tests-reveal-citi-and-bofa-need-more-capital-but-you-knew-that-already.html">Stress tests reveal Citi and BofA need more capital, but you knew that already</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
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<br /><small>Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1</small></p><strong>Related Posts</strong>
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		<li><a href="http://www.creditwritedowns.com/2009/03/are-citi-and-bofa-gaming-the-geithner-plan-already.html" rel="bookmark">Are Citi and BofA gaming the Geithner Plan already?</a> 26 Mar 2009<!-- (39.1)--></li>
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	</ul>
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		<title>Swiss citizens think a large Swiss bank will fail</title>
		<link>http://www.creditwritedowns.com/2009/04/swiss-citizens-think-a-large-swiss-bank-will-fail.html</link>
		<comments>http://www.creditwritedowns.com/2009/04/swiss-citizens-think-a-large-swiss-bank-will-fail.html#comments</comments>
		<pubDate>Thu, 16 Apr 2009 22:24:35 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Financial Institutions]]></category>
		<category><![CDATA[bankruptcy]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[Citigroup]]></category>
		<category><![CDATA[polls]]></category>
		<category><![CDATA[Switzerland]]></category>

		<guid isPermaLink="false">http://www.creditwritedowns.com/?p=7912</guid>
		<description><![CDATA[<p>This comes from French-language Swiss daily Le Temps: Over 50% of respondents in Geneva surveyed by the HEG School of Management believe that the bankruptcy of a large institution is likely. The Swiss political world is clearly convinced that it will never let one of the major banks in the country go bankrupt. Despite the </p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
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<br ><a href="http://www.creditwritedowns.com/2009/04/swiss-citizens-think-a-large-swiss-bank-will-fail.html">Swiss citizens think a large Swiss bank will fail</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
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	</ul>
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		<title>Are Citi and BofA gaming the Geithner Plan already?</title>
		<link>http://www.creditwritedowns.com/2009/03/are-citi-and-bofa-gaming-the-geithner-plan-already.html</link>
		<comments>http://www.creditwritedowns.com/2009/03/are-citi-and-bofa-gaming-the-geithner-plan-already.html#comments</comments>
		<pubDate>Thu, 26 Mar 2009 15:12:45 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Financial Institutions]]></category>
		<category><![CDATA[bailouts]]></category>
		<category><![CDATA[Bank of America]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[Citigroup]]></category>
		<category><![CDATA[nationalization]]></category>

		<guid isPermaLink="false">http://www.creditwritedowns.com/?p=7496</guid>
		<description><![CDATA[<p>Here we are just days out from the announcement by Treasury Secretary Tim Geithner that the Obama Administration will be buying up so-called toxic assets as originally planned by Henry Paulson during the Bush Administration.  The initial reaction has been one of euphoria as most asset markets responded positively to the news.
<br /><br />
Now that the dust has settled somewhat, another reaction is taking place behind the scenes and it looks an awful lot like banks -- specifically Citigroup and Bank of America -- are gaming the system.  Note my highlighting</p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
<br >Also read our <a href="http://www.creditwritedowns.com/news-feed/">News Feed</a> for the latest financial and economic news.
<br ><a href="http://www.creditwritedowns.com/2009/03/are-citi-and-bofa-gaming-the-geithner-plan-already.html">Are Citi and BofA gaming the Geithner Plan already?</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
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<br /><small>Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1</small></p><strong>Related Posts</strong>
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		<li><a href="http://www.creditwritedowns.com/2009/03/roubini-nationalization-%e2%80%9cfully-on-the-table-in-geithners-plan.html" rel="bookmark">Roubini: Nationalization “fully on the table&#8221; in Geithner&#8217;s Plan</a> 25 Mar 2009<!-- (33.1)--></li>
		<li><a href="http://www.creditwritedowns.com/2009/02/citi-looking-for-as-much-as-a-40-stake-from-the-government.html" rel="bookmark">Citi: looking for as much as a 40% stake from the government</a> 22 Feb 2009<!-- (23.1)--></li>
	</ul>
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		<title>Does Obama have the legal authority to take over Citi?</title>
		<link>http://www.creditwritedowns.com/2009/03/does-obama-have-the-legal-authority-to-take-over-citi.html</link>
		<comments>http://www.creditwritedowns.com/2009/03/does-obama-have-the-legal-authority-to-take-over-citi.html#comments</comments>
		<pubDate>Tue, 10 Mar 2009 00:28:37 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Financial Institutions]]></category>
		<category><![CDATA[Citigroup]]></category>
		<category><![CDATA[FDIC]]></category>
		<category><![CDATA[nationalization]]></category>
		<category><![CDATA[Sheila Bair]]></category>

		<guid isPermaLink="false">http://www.creditwritedowns.com/?p=6888</guid>
		<description><![CDATA[<p>From Justin Fox of Time Magazine:   FDIC chairman Sheila Bair doesn&#8217;t think a full government takeover of Citigroup and other multinational financial institutions is practical or even possible. Here are her reasons, as summarized by Pete Davis: 1. The legal authority to take over large banks does not currently extend to multinational financial conglomerates; 2. The FDIC lacks </p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
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<br ><a href="http://www.creditwritedowns.com/2009/03/does-obama-have-the-legal-authority-to-take-over-citi.html">Does Obama have the legal authority to take over Citi?</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
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		<li><a href="http://www.creditwritedowns.com/2009/02/citi-looking-for-as-much-as-a-40-stake-from-the-government.html" rel="bookmark">Citi: looking for as much as a 40% stake from the government</a> 22 Feb 2009<!-- (21.2)--></li>
		<li><a href="http://www.creditwritedowns.com/2009/03/david-beim-citi-is-too-big-to-nationalize.html" rel="bookmark">David Beim: Citi is too big to nationalize</a> 5 Mar 2009<!-- (21)--></li>
		<li><a href="http://www.creditwritedowns.com/2009/01/citi-agrees-to-do-cram-downs.html" rel="bookmark">Citi agrees to do cramdowns</a> 8 Jan 2009<!-- (20.2)--></li>
	</ul>
]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>David Beim: Citi is too big to nationalize</title>
		<link>http://www.creditwritedowns.com/2009/03/david-beim-citi-is-too-big-to-nationalize.html</link>
		<comments>http://www.creditwritedowns.com/2009/03/david-beim-citi-is-too-big-to-nationalize.html#comments</comments>
		<pubDate>Thu, 05 Mar 2009 09:00:27 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Financial Institutions]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[Citigroup]]></category>
		<category><![CDATA[nationalization]]></category>

		<guid isPermaLink="false">http://www.creditwritedowns.com/?p=6650</guid>
		<description><![CDATA[<p>Beim was a Professor back when I was at Columbia, although I don't remember being in any of classes.  Before he was a Professor, he worked as an Investment Banker at First Boston and Dillon Read, two white shoe firms that are now defunct, absorbed into Credit Suisse and </p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
<br >Also read our <a href="http://www.creditwritedowns.com/news-feed/">News Feed</a> for the latest financial and economic news.
<br ><a href="http://www.creditwritedowns.com/2009/03/david-beim-citi-is-too-big-to-nationalize.html">David Beim: Citi is too big to nationalize</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
<br /> <br />Links: <a href="http://www.creditwritedowns.com/feed">RSS</a> - <a href="http://eepurl.com/hfF3U">Daily</a> - <a href="http://eepurl.com/eklTA">Weekly</a> - <a href="http://twitter.com/edwardnh">Twitter</a> - <a href="http://www.facebook.com/creditwritedowns">Facebook</a> - <a href="http://www.creditwritedowns.com/contact">Contact</a>
<br /><small>Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1</small></p><strong>Related Posts</strong>
<ul>
		<li><a href="http://www.creditwritedowns.com/2009/02/did-sweden-really-nationalize-its-banks.html" rel="bookmark">Did Sweden really nationalize its banks?</a> 25 Feb 2009<!-- (26.2)--></li>
		<li><a href="http://www.creditwritedowns.com/2009/02/citi-looking-for-as-much-as-a-40-stake-from-the-government.html" rel="bookmark">Citi: looking for as much as a 40% stake from the government</a> 22 Feb 2009<!-- (22.2)--></li>
		<li><a href="http://www.creditwritedowns.com/2008/07/merrill-and-citi-are-big-losers-this.html" rel="bookmark">Merrill and Citi are the big losers this season</a> 18 Jul 2008<!-- (21)--></li>
	</ul>
]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Geithner to shortsellers: take your profits and go home</title>
		<link>http://www.creditwritedowns.com/2009/03/geithner-to-shortsellers-take-your-profits-and-go-home.html</link>
		<comments>http://www.creditwritedowns.com/2009/03/geithner-to-shortsellers-take-your-profits-and-go-home.html#comments</comments>
		<pubDate>Mon, 02 Mar 2009 21:06:47 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Financial Institutions]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[capital]]></category>
		<category><![CDATA[capital investment]]></category>
		<category><![CDATA[Citigroup]]></category>
		<category><![CDATA[investing]]></category>
		<category><![CDATA[shortselling]]></category>

		<guid isPermaLink="false">http://www.creditwritedowns.com/2009/03/geithner-to-shortsellers-take-your-profits-and-go-home.html</guid>
		<description><![CDATA[<p>Oppenheimer has a research note out today that calls Tim Geithner an "evil genius."   The genius moniker comes from the steady creep up the capital structure, giving Geithner access to huge pools of money as the Treasury dials for dollars. The evil part has everything to do with the pain this strategy is going to mete out to preferred shareholders and, eventually, bondholders</p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
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<br ><a href="http://www.creditwritedowns.com/2009/03/geithner-to-shortsellers-take-your-profits-and-go-home.html">Geithner to shortsellers: take your profits and go home</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
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		<li><a href="http://www.creditwritedowns.com/2008/06/how-goldman-profits-from-credit-crunch.html" rel="bookmark">How Goldman profits from the credit crunch</a> 22 Jun 2008<!-- (21.8)--></li>
		<li><a href="http://www.creditwritedowns.com/2009/01/tarp-dividends-are-killing-bank-profits.html" rel="bookmark">TARP dividends are killing bank profits</a> 22 Jan 2009<!-- (21.6)--></li>
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	</ul>
]]></description>
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		<slash:comments>0</slash:comments>
		</item>
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		<title>My take on the latest Citigroup bailout</title>
		<link>http://www.creditwritedowns.com/2009/02/my-take-on-the-latest-citigroup-bailout.html</link>
		<comments>http://www.creditwritedowns.com/2009/02/my-take-on-the-latest-citigroup-bailout.html#comments</comments>
		<pubDate>Fri, 27 Feb 2009 17:01:47 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Financial Institutions]]></category>
		<category><![CDATA[bailouts]]></category>
		<category><![CDATA[Citigroup]]></category>
		<category><![CDATA[nationalization]]></category>

		<guid isPermaLink="false">http://www.creditwritedowns.com/?p=6491</guid>
		<description><![CDATA[<p>The big news other than GDP falling off a cliff is the confirmation that the Obama Administration is going to bail out Citigroup for a third time.  The market reaction this morning was quite negative, causing index futures to sell off even before the GDP number hit the tape.  Citigroup itself dropped as much as </p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
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<br ><a href="http://www.creditwritedowns.com/2009/02/my-take-on-the-latest-citigroup-bailout.html">My take on the latest Citigroup bailout</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
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<br /><small>Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1</small></p><strong>Related Posts</strong>
<ul>
		<li><a href="http://www.creditwritedowns.com/2008/11/the-citigroup-bailout.html" rel="bookmark">The Citigroup Bailout</a> 24 Nov 2008<!-- (35)--></li>
		<li><a href="http://www.creditwritedowns.com/2008/11/the-citigroup-bailout-a-blogosphere-post-mortem.html" rel="bookmark">The Citigroup Bailout: a blogosphere post-mortem</a> 24 Nov 2008<!-- (34)--></li>
		<li><a href="http://www.creditwritedowns.com/2008/11/citigroup-talks-with-us-government-as-bankruptcy-looms.html" rel="bookmark">Citigroup talks with US Government as bankruptcy looms</a> 22 Nov 2008<!-- (20.2)--></li>
	</ul>
]]></description>
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		<slash:comments>2</slash:comments>
		</item>
		<item>
		<title>Citigroup and Redecard: shedding international assets</title>
		<link>http://www.creditwritedowns.com/2009/02/citigroup-and-redecard-shedding-international-assets.html</link>
		<comments>http://www.creditwritedowns.com/2009/02/citigroup-and-redecard-shedding-international-assets.html#comments</comments>
		<pubDate>Wed, 25 Feb 2009 23:56:46 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Financial Institutions]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[capital]]></category>
		<category><![CDATA[Citigroup]]></category>
		<category><![CDATA[deleveraging]]></category>

		<guid isPermaLink="false">http://www.creditwritedowns.com/?p=6437</guid>
		<description><![CDATA[<p>Citigroup is looking to raise capital and shed assets in order to deleverage and prevent a worst-case outcome for the financial institution.  Case and point is the fact that the company is putting its Brazilian subsidiary Redecard on the block for sale. What remains unclear is whether Citi is making these moves just to stave off a worst-case outcome (i.e. bank failure).  These sales certainly make the company easier to sell or nationalize</p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
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<br ><a href="http://www.creditwritedowns.com/2009/02/citigroup-and-redecard-shedding-international-assets.html">Citigroup and Redecard: shedding international assets</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
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<br /><small>Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1</small></p><strong>Related Posts</strong>
<ul>
		<li><a href="http://www.creditwritedowns.com/2008/11/chart-of-the-day-citigroup.html" rel="bookmark">Chart of the Day: Citigroup</a> 20 Nov 2008<!-- (20.8)--></li>
		<li><a href="http://www.creditwritedowns.com/2008/11/the-citigroup-bailout.html" rel="bookmark">The Citigroup Bailout</a> 24 Nov 2008<!-- (20.8)--></li>
		<li><a href="http://www.creditwritedowns.com/2008/06/citigroup-to-slash-jobs.html" rel="bookmark">Citigroup to slash jobs</a> 22 Jun 2008<!-- (20.6)--></li>
	</ul>
]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Citi: looking for as much as a 40% stake from the government</title>
		<link>http://www.creditwritedowns.com/2009/02/citi-looking-for-as-much-as-a-40-stake-from-the-government.html</link>
		<comments>http://www.creditwritedowns.com/2009/02/citi-looking-for-as-much-as-a-40-stake-from-the-government.html#comments</comments>
		<pubDate>Mon, 23 Feb 2009 01:37:18 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Financial Institutions]]></category>
		<category><![CDATA[bailouts]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[capital]]></category>
		<category><![CDATA[Citigroup]]></category>
		<category><![CDATA[Dubai]]></category>
		<category><![CDATA[nationalization]]></category>

		<guid isPermaLink="false">http://www.creditwritedowns.com/?p=6303</guid>
		<description><![CDATA[<p>This news is just in from the Wall Street Journal. Obviously, all of the activity we have seen with Citi&#8217;s foreign subsidiaries of late has been in preparation for sale or nationalization. I expect this to be the big news when markets open tomorrow. Note: this will mean massive dilution for shareholders, so it is </p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
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<br ><a href="http://www.creditwritedowns.com/2009/02/citi-looking-for-as-much-as-a-40-stake-from-the-government.html">Citi: looking for as much as a 40% stake from the government</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
<br /> <br />Links: <a href="http://www.creditwritedowns.com/feed">RSS</a> - <a href="http://eepurl.com/hfF3U">Daily</a> - <a href="http://eepurl.com/eklTA">Weekly</a> - <a href="http://twitter.com/edwardnh">Twitter</a> - <a href="http://www.facebook.com/creditwritedowns">Facebook</a> - <a href="http://www.creditwritedowns.com/contact">Contact</a>
<br /><small>Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1</small></p><strong>Related Posts</strong>
<ul>
		<li><a href="http://www.creditwritedowns.com/2008/08/lehman-tried-to-sell-50-stake-to.html" rel="bookmark">Lehman tried to sell a 50% stake to foreign governments</a> 20 Aug 2008<!-- (26.9)--></li>
		<li><a href="http://www.creditwritedowns.com/2008/07/merrill-and-citi-are-big-losers-this.html" rel="bookmark">Merrill and Citi are the big losers this season</a> 18 Jul 2008<!-- (21)--></li>
		<li><a href="http://www.creditwritedowns.com/2008/07/citi-close-to-selling-german-unit.html" rel="bookmark">Citi close to selling German unit</a> 11 Jul 2008<!-- (20.8)--></li>
	</ul>
]]></description>
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		<slash:comments>3</slash:comments>
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		<item>
		<title>Citibank has cut all lending in Denmark</title>
		<link>http://www.creditwritedowns.com/2009/02/citibank-has-cut-all-lending-in-denmark.html</link>
		<comments>http://www.creditwritedowns.com/2009/02/citibank-has-cut-all-lending-in-denmark.html#comments</comments>
		<pubDate>Fri, 20 Feb 2009 02:56:48 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Financial Institutions]]></category>
		<category><![CDATA[Citigroup]]></category>
		<category><![CDATA[credit]]></category>
		<category><![CDATA[credit cards]]></category>
		<category><![CDATA[Denmark]]></category>

		<guid isPermaLink="false">http://www.creditwritedowns.com/?p=6218</guid>
		<description><![CDATA[<p>This comes from the Danish daily Berlingske Tidene. It suggests that Citibank is cutting back all international lending. Citigroup has sold its German operations to a French bank and I understand they are cutting credit lines in the UK as well. In seeing all these stories together, one gets a full view of the kind </p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
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<br ><a href="http://www.creditwritedowns.com/2009/02/citibank-has-cut-all-lending-in-denmark.html">Citibank has cut all lending in Denmark</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
<br /> <br />Links: <a href="http://www.creditwritedowns.com/feed">RSS</a> - <a href="http://eepurl.com/hfF3U">Daily</a> - <a href="http://eepurl.com/eklTA">Weekly</a> - <a href="http://twitter.com/edwardnh">Twitter</a> - <a href="http://www.facebook.com/creditwritedowns">Facebook</a> - <a href="http://www.creditwritedowns.com/contact">Contact</a>
<br /><small>Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1</small></p><strong>Related Posts</strong>
<ul>
		<li><a href="http://www.creditwritedowns.com/2008/07/denmark-bails-out-roskilde-bank.html" rel="bookmark">Denmark bails out Roskilde Bank</a> 11 Jul 2008<!-- (22.3)--></li>
		<li><a href="http://www.creditwritedowns.com/2008/09/denmark-out-of-recession.html" rel="bookmark">Denmark out of recession</a> 2 Sep 2008<!-- (21.7)--></li>
		<li><a href="http://www.creditwritedowns.com/2009/01/denmark-wants-in-on-the-euro.html" rel="bookmark">Denmark wants in on the Euro</a> 22 Jan 2009<!-- (21.7)--></li>
	</ul>
]]></description>
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		<slash:comments>2</slash:comments>
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