Investment banks expected to report worst quarter ever

01/15/2008 | Bloomberg

A Bloomberg survey of eight analysts reveals that Citigroup is expected to report a fourth-quarter loss of $4 billion this week. Merrill Lynch & Co. and Bank of America Corp are also expected to report their worst quarter ever. "The banks are already operating like they're in a recession," by curbing trading and lending, said Adam Compton of RCM Capital. "Everybody has tightened up tremendously."

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