2008-12-02 — reuters.com
"Hedge fund deleveraging has put pressure on asset prices as clients have redeemed. But the main point is banks are deleveraging and they are many times more leveraged than hedge funds," said Chief Executive Peter Clarke.
Yes, it is hard to match Citigroup's 280-to-1 leverage ratio to tangible equity unless one lives in the special privileged world of banking regulation.
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