Relevant:
- Analyst: Loan Losses Will Exceed Depression Levels
- Huge writedowns forecast for banks after Merrill Lynch’s cut-price sale of debt
- B of A, JPMorgan, Citi Units Ripe for Sale, Mike Mayo Says
- Citigroup to Take $16 Billion Writedown, Merrill Says
- Trump's Tax Cut Means Billion-Dollar Writedowns for U.S. Banks
2010-08-27 — foxbusiness.com
The analyst, Mike Mayo, of the securities firm CLSA, has been telling investors that Citigroup should take a writedown, or a loss on some $50 billion of “deferred-tax assets,†or DTAs. That is a tax credit the firm has on its financial statement that Mayo says is inflating profits at the big bank by as much as $10 billion.
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