Goldman Sachs analysts said that Citigroup may have to write down $8.9 billion and post a net loss in the second quarter. Goldman lowered its rating on Citi to “conviction sell,” and on U.S. brokerages as a whole to “neutral,” from “attractive.” (Bloomberg) The analysts also predicted that Merrill Lynch could write down $4.2 billion in the quarter. (Reuters)
THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER
- The Obama era is over. The presidency continues.
- America created the Islamic State of Iraq and Syria? Meet the ISIS 'truthers'
- What is Molly? Everything you need to know about the party drug
- What would a U.S.-Russia war look like?
- How American businessmen are ruining American business — and the U.S. economy
- Russia's giant spy ship was a high-tech disaster waiting to happen
- How Harry Houdini escaped death
- On ISIS, neocons and liberal hawks have a 'boy who cried wolf' problem
- The constant struggle of running a family farm in 21st century America
- 7 grammar rules you really should pay attention to
Subscribe to the Week