How can this be good? They honestly think bad loans are going to be much less so they take $2 billion as income of the $2.2 billion they earned? Bad loans will be worse and they will need to come out and say this. Or go to jail down the road?
"Citigroup, which is trying to extricate itself from partial government ownership, reported a net profit of $2.2 billion in the third quarter — a figure that topped most analysts’ expectations. The gains partly reflected the fact that Citigroup released $2 billion that had been set aside to cover loan losses."