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Loan Modification

: Mortgage Lender Implode-o-Meter

Analyst: Citigroup Is Cooking the Books

By Implode-Explode Heavy Industries

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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.

Full post as published by Mortgage Lender Implode-o-Meter on August 27, 2010 (boomark / email).

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