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The CEO of Citigroup Announced a $8 Billion Write-Down for the Company

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The CEO of Citigroup announced a $8 billion write-down for the company because of bad loans.This announcement followed a previous announcement of a $5 billion write-down three quarters earlier.The board asked him to step down.


Definitions:

Loanable Funds

The market model that describes the supply and demand for money that is available for borrowing and lending.

Foreign-Currency Exchange

The process of exchanging one country's currency for another, affecting trade, investments, and economic indicators.

Capital Flight

The large-scale exodus of financial assets and capital from a country due to economic instability, political unrest, or unfavorable policies.

Capital Mobility

The ease with which capital or financial assets can move between countries or markets.

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