Friday, April 17, 2009

Citigroup Earnings: First Glance

4 items caught my eye, will look into this when the 10-Q is released:

- looks like they booked $2.5 billion in revenue from the old Lehman trick of marking their own debt

- income from selling Redecard, looks like a net gain of $704 million

- FAS 115 change leads to higher retained earnings

- FAS 115 change leads to lower impairment charges

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