Writedowns Cost Citigroup $2.5 Billion Loss In 2nd Quarter

A pedestrian walks by a Citibank office July 18, 2008 in San Francisco, California. Citigroup, the nation's largest banking company, reported a second quarter loss of $2.5 billion or 54 cents pers share as the company struggles with continuing bank loan defaults. Citi earned $6.23 billion, or $1.24 per share one year ago.
A pedestrian walks by a Citibank office July 18, 2008 in San Francisco, California. Citigroup, the nation's largest banking company, reported a second quarter loss of $2.5 billion or 54 cents pers share as the company struggles with continuing bank loan defaults. Citi earned $6.23 billion, or $1.24 per share one year ago.
(Photo by Justin Sullivan/Getty Images North America)
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A pedestrian walks by a Citibank office July 18, 2008 in San Francisco, California. Citigroup, the nation's largest banking company, reported a second quarter loss of $2.5 billion or 54 cents pers share as the company struggles with continuing bank loan defaults. Citi earned $6.23 billion, or $1.24 per share one year ago. Pedestrians walk by a Citibank office July 18, 2008 in San Francisco, California. Citigroup, the nation's largest banking company, reported a second quarter loss of $2.5 billion or 54 cents pers share as the company struggles with continuing bank loan defaults. Citi earned $6.23 billion, or $1.24 per share one year ago. The Citibank logo is seen outside of a bank branch July 18, 2008 in San Francisco, California. Citigroup, the nation's largest banking company, reported a second quarter loss of $2.5 billion or 54 cents pers share as the company struggles with continuing bank loan defaults. Citi earned $6.23 billion, or $1.24 per share one year ago. The Citibank logo is seen outside of a bank branch July 18, 2008 in San Francisco, California. Citigroup, the nation's largest banking company, reported a second quarter loss of $2.5 billion or 54 cents pers share as the company struggles with continuing bank loan defaults. Citi earned $6.23 billion, or $1.24 per share one year ago.
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