So what? Why is that bad news? They will also slash the div which is a good move in my opinion and to anyone who is yet to buy the stock.
didnt C say they had 50 bill of level 3 paper??? so the rumored and actual write downs account for about half of that....
whats interesting is if C breaks up its companies and sells it seperately, it is well worth over 29 dollars that its trading now. The news about china turning down a multi billion dollar infusion is kind of troubling but i am still confident in the stock in the long run. possible leap 2010 januaries may be a cheap yet effective way to profit from this downturn.