Citi Writes off $18B, Merrill gets $6.6B

January 14, 2008

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Citigroup wrote off a colossal $18.1 billion on Tuesday and secured new capital as Merrill Lynch, also seen heading for big losses due to the U.S. subprime mortgage meltdown, announced a $6.6 billion shot in the arm.

*For more on this story,

read the full Reuters article.

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Citi Writes off $18B, Merrill gets $6.6B

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