Citigroup took $100 million hits in 2007

Traders at Citigroup lost $100 million on fifteen different days last year, according to The Wall Street Journal.

Traders at Citigroup lost a $100 million on fifteen different days last year, according to The Wall Street Journal.
The losses were revealed in the New York-based firm’s annual report released on Friday. The company did not describe any of the instances in detail.
The annual report included several pieces of information usually not included, such as unprecedented disclosure on Citigroup’s off-balance holdings, which accounted for $356 billion in 2007, compared to $388 billion at the end of 2006.
Of those assets, Citigroup has a maximum possible exposure to loss of about $152 billion, compared to $148 billion the previous year.
Of that potential loss, $14 billion of it linked to collateralized debt obligations, which have long been targeted by analysts for downgrades, according to the Journal.