That's our AD on FT that day.

 

For those who don't know, this is an very old Citi slogan, they just renewed it and used it again! And btw, Citi is going through some big reorganization now, you will know the meaning of it if you know the words "Downsize, Job Cut, Shaping! Layoff!". Citi in U.S has laid off 3,000 jobs since the sub prime crisis, and there are more coming. I am feeling very sorry for those ex-colleagues, but that's the way this industry works, or rather every industries work! When the market is good, everything sounds good and promising, no one worries about the future and no one cares about the balance sheet, so everyone is happy and the company is growing! However, when the market hits a downturn, the balance sheet is all they care about, cutting cost is all they are thinking of.

 

To be honest, Citi was doing quite well in Asia, in fact we have grown a lot and the earning is up 40% last year. But when you put everything together, especially US, it looks very ugly! No only Citi, everyone in this market is struggling! It is not a matter of how much you have lost or written down, as long as the market is still in its downturn, no one is safe and no one can smile! We just hope for the best, work for the most and prepare for the worst, because as a family, we never stop caring about each other and Citi Never Sleeps!

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