tough-times-for-boa-and-citi

Tough times for BoA and Citi

Bank of America asks for more government assistance and Citi restructures.
No one can honestly say they were expecting stellar earnings reports from Bank of America or Citigroup, but the news on Friday underscored the depth of the economic misery that the US û and the world û is in.

Citi's role as a global bank offers an insight into the global economic problems. Look at its earnings report and you see that Asia is playing a role in the decline of its business.

But first the headline news On Friday, Bank of America reported a fourth-quarter loss of $1.79 billion, or 48 cents per share, compared with a year-earlier profit of $268 million, or 5 cents per share. It also said it needs more government...
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