Shares of Citi (C) down after CFO Gary Crittenden made the following comments on a Deutsche Bank conference call:
…if current trends prevail, it is fair to conclude we will continue to have substantial additional marks on our subprime exposure this quarter.
Crittenden also admitted that credit expenses and losses at Citi’s consumer business will grow. “Two to three years out,” however, [a.k.a., eternity] Crittenden sees revenue growth notching above 9%.
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