Comments on: Timmy Elsewhere http://timworstall.com/2008/01/25/timmy-elsewhere-163/ It is all obvious or trivial except... Wed, 23 May 2012 18:14:05 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Bob B http://timworstall.com/2008/01/25/timmy-elsewhere-163/comment-page-1/#comment-6052 Bob B Fri, 25 Jan 2008 16:47:15 +0000 http://timworstall.com/2008/01/25/timmy-elsewhere-163/#comment-6052 What scandal? Do you mean these? "US banking giant Citigroup has reported a $9.83bn (£5bn) net loss for the last three months of 2007. Chief executive Vikram Pandit said the loss had been caused by a $18.1bn exposure to bad mortgage debt and was 'clearly unacceptable'. The company, the largest banking group in the US, said revenues during the fourth quarter fell 70% from a year earlier to $7.2bn." http://news.bbc.co.uk/1/hi/business/7188909.stm "Wall Street banking giant Merrill Lynch has unveiled a huge loss for 2007, crippled by exposure to risky investments in the US housing market. It made a net loss of $7.8bn (£3.9bn) in the 12 months to the end of December from a net profit of $7.5bn in 2006." http://news.bbc.co.uk/1/hi/business/7193915.stm Those look distinctly systemic to me. What scandal? Do you mean these?

“US banking giant Citigroup has reported a $9.83bn (£5bn) net loss for the last three months of 2007. Chief executive Vikram Pandit said the loss had been caused by a $18.1bn exposure to bad mortgage debt and was ‘clearly unacceptable’. The company, the largest banking group in the US, said revenues during the fourth quarter fell 70% from a year earlier to $7.2bn.”
http://news.bbc.co.uk/1/hi/business/7188909.stm

“Wall Street banking giant Merrill Lynch has unveiled a huge loss for 2007, crippled by exposure to risky investments in the US housing market. It made a net loss of $7.8bn (£3.9bn) in the 12 months to the end of December from a net profit of $7.5bn in 2006.”
http://news.bbc.co.uk/1/hi/business/7193915.stm

Those look distinctly systemic to me.

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