ML-Implode News - Citigroup's Tax Benefit, at $55 Billion and Rising, Raises Questions and Causes Concerns

Citigroup (C_) investors and analysts are narrowing their focus on the bank's massive deferred tax asset (DTA), which is growing despite three consecutive years of profits.
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The DTA reflects losses and other deductions that get converted to tax credits. However, Citigroup must generate sufficient profits to make use of the credits before they expire, an issue causing anxiety among some followers of the stock.

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Citigroup's Tax Benefit, at $55 Billion and Rising, Raises Questions and Causes Concerns