Citigroup’s standing as America’s pre-eminent bank is slipping, according to financial industry insiders. The largest bank according to assets yesterday reported a fourth-quarter net loss of nearly $10 billion, and said revenue plummeted 70%, to $7.22 billion. To shore up its balance sheet, Citigroup is raising billions from foreign governments, including those of Singapore and Kuwait. It plus announced 4,200 job cuts, many of which could be in New York

Original post by JULIE SATOW

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