Whitney: Citigroup & Wells Fargo Need More Cash?
Oppenheimer's Meredith Whitney tripled her 2008 loss estimate for Citigroup.
The biggest U.S. bank by assets, may cut its dividend for a 2nd time this year as losses escalate.
"The company has seriously constrained earnings power. Citigroup also may have to seek additional capital from outside investors."
Whitney echoing the Nattering one's sentiments...
also predicted today that Wells Fargo, the biggest bank on the U.S. West Coast, may have to fund a $4.5 billion shortfall in reserves.
The biggest U.S. bank by assets, may cut its dividend for a 2nd time this year as losses escalate.
"The company has seriously constrained earnings power. Citigroup also may have to seek additional capital from outside investors."
Whitney echoing the Nattering one's sentiments...
also predicted today that Wells Fargo, the biggest bank on the U.S. West Coast, may have to fund a $4.5 billion shortfall in reserves.
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