December 27, 2007
Goldman Increases Estimates of Write-Offs at Other Firms
A Goldman Sachs analyst predicts that Citigroup will cut its dividend by 40% and will announce CDO-related write-offs in the fourth quarter of $18.7 billion. Goldman Sachs also increased its estimates of fourth quarter CDO-related write-offs at other firms: JPMorganChase, an estimated $3.4 billion (up from $1.7 billion) and Merrill Lynch, an estimated $11.5 billion (up from $6 billion). And Goldman must be laughing all the way to the bank. Bloomberg.com, Citigroup May Cut Dividend by 40%, Goldman Sachs Says (Update1).
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