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Matt Levine

Citigroup Traveled Back in Time to Lose More Money

Sometime between October 14 and October 30, Citi found a way to lose $600 million before September 30, because of fines that it will pay in November or December.

How much money did Citi make over the three months of July, August and September of this year? Its earnings release on October 14 said $3.4 billion, though there was another possible answer right in the headline. ("Net Income of $3.4 Billion; $3.7 Billion Excluding CVA/DVA.") But that was wrong. Or so says Citi now:

Oops! Sort of amazing that Citi can't even count how much money it made over those three months.