More pain ahead at Citigroup?

The drama surrounding Lehman Brothers has taken the spotlight from other banks that are not yet out of the credit-crunch woods. Citigroup CFO Gary Crittenden said Thursday that the reeling bank still has some credit issues, and will "continue to have substantial additional marks on our subprime exposure this quarter." Overall, the bad news includes rising credit costs, additional writeoffs for leveraged loans and for bond-insurance related shifts, and rising loan-loss reserves. Unsurprisingly, investors bid up its credit default swaps. There are a lot of minefields that Citigroup must still navigate. The same can be said for other banks. This is far from over.  

For more:
- here's an AP item

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