The Economy

Citibank reported a fourth-quarter net loss of $8.29 billion (its 5th straight quarterly loss.) They also announced they are splitting into 2 seperate businesses.

Bank of America Corp (BAC.N) posted its first quarterly loss in 17 years. First, they obtained an additional $20 billion from the government’s Troubled Asset Relief Program (TARP). Then, they reported a quarterly loss of $1.79 billion.

Toyota is likely to report its first quarterly loss in 70 years.

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