Goldman: Citi Exposed to $15 Billion in Write Downs

Goldman Sachs analysts are anticipating that Citi is exposed to an additional $8 - $11 billion in mortgage-related write downs in the 4th quarter and an additional $4 billion above and beyond the $1.83 billion in charges already taken by the banking giant.  The losses are of course tied to subprime mortgage bets and collateralized debt obligations. Goldman has become increasingly bearish in its analysis of the banking and housing sector, releasing a report on California properties calling for a 35% drop in prices, a research note on the elimination of $2 trillion in global lending and now the Citi write down woes. From the article: The projected $8 billion to $11 billion write-down is on top of a top of a $1.83 billion mortgage-related loss that Citigroup took in the third quarter. Th