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Tue May 22, 2012
Banking platforms-Citigroup Inc., JPMorgan Chase & Co. and Merrill Lynch & Co.- are potentially facing billions of dollars in additional write downs in securities because of troubles associated with the subprime mortgage market, according to a report from Bloomberg News.
Bloomberg says the additional write-downs from all three of the firms could tally $34 billion with Citigroup alone considering a 40-percent reduction when it comes to its fourth quarter dividend.
Click here to read the full report from Bloomberg News.
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