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Right.

However, the other debt is small enough that "getting the shaft" is unlikely to topple the others. It's the $138bn figure that stands out.

A vivid image of what should exist acts as a surrogate for reality. Pursuit of the image then prevents pursuit of the reality -- John K. Galbraith

by Migeru (migeru at eurotrib dot com) on Mon Sep 15th, 2008 at 12:25:35 PM EST
[ Parent ]
Need to look at and see how much of these assets© are generating positive Cash Flow.  Right now Balance Sheet Accounting is meaningless.  Nobody knows what that shit is worth.  As long as Net Income is positive Citi can stay in business.

At least until they have to do some debt roll-over.

Then ... who knows?

by ATinNM on Mon Sep 15th, 2008 at 12:38:27 PM EST
[ Parent ]
Could be that this was what much of the credit default swap two hour special session on Sunday was about.

As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Mon Sep 15th, 2008 at 01:03:57 PM EST
[ Parent ]

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