October 16, 2008
Citigroup says goodbye to $13 billion, thanks to the credit crunch. Merrill Lynch waves off $5.2 billion. Here's Citigroup CEO Vikram Pandit, doing his job:
"While our third quarter results reflect both a difficult environment as well as continued writedowns on our legacy assets, we are making excellent progress on the parts of our business we control, including expense reduction, headcount, and balance sheet and capital management."
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The bankruptcy of a small U.S. pension fund could have implications for other struggling funds.
A behind-the-scenes tour of the factory where paper for U.S. currency has been made since 1879.
"It's an un-obvious chunk of meat that has been sitting there..."
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