Be careful what you wish for, QLT! Citigroup and other Wall Street gluttons are responsible for the subprime mess and we are all paying for.
Yes, you would have a lot more money (billions of dollar, in fact) after your write-down, but would you want the onus of forcing thousands of Americans, who lost their homes and everything they worked for, into foreclosure? I didn't think so!
If we go into a recession--and it looks like we are heading that way, Citi and the other big banks that slapped each other on the back, while handing out million dollar bonuses a year or two ago, will be responisble for the big hit this economy is taking and for their profound lack of foresight that put us where we are today!
They created the current "receding tide that is lowering all boats." I might add that ITKG is one of those boats.
Cheers
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