Married Man on 14Feb2010
Join Date: Jun 2001
Location: Fort Worth, Texas (North Side)
Pay no attention to the assets behind the curtain
Nowhere mentioned in the accompanying 66-page handout were the additional $1.1 trillion of assets that New York-based Citigroup keeps off its books: trusts to sell mortgage-backed securities, financing vehicles to issue short-term debt and collateralized debt obligations, or CDOs, to repackage bonds.
Are the banking regulators asleep to allow $1.1T to be held off books?