Citigroups, Inc (C:NYSE) credit losses are growing at a rapid rate, meaning the shares remain a sell, according to Goldman Sachs Group Inc.
While Citigroup posted first-quarter net income of $1.6 billion last week, the New York-based bank suffered an underlying loss of 38 cents a share, Richard Ramsden, a Goldman Sachs analyst, wrote in a research note. Last Updated: April 19, 2009 22:22 EDT
For a sharper, clearer view of Citigroups financial health, lets not look at earnings, but at assets. Kinda hard to feel sorry for a bank that earns over a billion a year and is giving us a hard time about modifying our homeloan so we wont be paying 8 3/4 %!!!