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Recession! How bad will it be?
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[QUOTE]Originally posted by glassman: [QB] didn't citi report profits for Jan and Feb this year? [b]By David Mildenberg and Bryan Keogh March 11 (Bloomberg) -- Citigroup Inc. and Bank of America Corp.’s bond prices are sliding on concern that owners of debt issued by U.S. financial firms will be forced to swallow losses if the industry needs another bailout. U.S. bank debt has lost 7.6 percent and yields have jumped to record levels compared with benchmark rates in the past month, even after taxpayers committed more than $11.6 trillion to prop up financial firms. With shareholders almost wiped out at banks like Citigroup and lawmakers resisting more rescues, holders may be asked to swap bonds for new debt that offers reduced interest rates or lower face values, analysts said. [/b] http://www.bloomberg.com/apps/news?pid=20601087&refer=home&sid=aKqHkkFlnvfM [/QB][/QUOTE]
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