extract from Citigroup boss' memo

[DST]

.... In addition to our strong capital position, I am most encouraged with the strength of our business so far in 2009. In fact, we are profitable through the first two months of 2009 and are having our best quarter-to-date performance since the third quarter of 2007. ... ...

[SimonPB]

and people wonder why banks are running ..

[dilligaff]

Citi took $50 Billion in taxpayer dollars and suddenly managed to turn a profit after 5 consecutive quarterly losses that total more than $37 Billion. All is well!??
...unsubstantiated by any real accouting or auditing, could get that many people to buy Citi stock??

[_nova]

Vikram is talking absolute BS. Citi is already running at a loss for 09. Ok, so 8.9bn profit? ... that's before taxes and 'special items' like the billions of bailout. Citi is not in profit, it's a bankrupt bank, period. Nice short opportunity for the pro's

[#5]

I'd like to see a breakdown of their income before I get too wildly optimistic. How much is derived from "normal" operations versus how much is derived from brokering TARP-like deals? (See eg. http://uk.biz.yahoo.com/09032009/399/barclays-warned-toxic-asset-dumping.html - Citi retained by the British Treasury to help in negotiations with Barclays.)