Citigroup Suffers Biggest Loss Ever

Citigroup Suffers Biggest Loss Ever 인쇄하기

There was still another heavy dose of bad economic news today. The stock market took another tumble with the Dow and the Nasdaq both down more than two percent. And the big reason for that: word that December retail sales were sharply lower. The other big reason: the nation’s largest bank, Citigroup, reported its biggest quarterly loss ever - almost ten billion dollars. Citigroup said it was writing off a staggering 18 billion dollars in bad mortgage instruments over the past six months. How does a company lose 18 billion dollars? Betsy Stark takes a closer look. If you want to understand how much money Citigroup lost in the last six months, think of it this way. 18 billion dollars is enough to send 760,000 kids to private college for a year, or buy 85,000 Americans new homes with no mortgages. So how could the biggest bank in the country lose so much so fast? “You think the warning signs were there?” “Oh, absolutely were there.” “And you think the warning signs were ignored?” “Absolutely.” Independent banking analyst Charles Peabody says by 2004, there were signs that the housing market was in a bubble. Prices were skyrocketing and lending standards had grown dangerously loose. But he says those warning signs were ignored because Wall Street was making so much money on investments tied to rising home prices. “It was heresy to think that home prices could actually fall.” Even the political environment helped feed the frenzy. A national policy promoting home ownership encouraged banks to design new mortgage products to help high-risk borrowers buy homes. Citigroup was one of the biggest investors in these exotic new mortgages which bundled together loans to high-risk borrowers. When those borrowers stopped making their monthly payments, Citi’s big bet went bust. Today, Citi called its own performance clearly unacceptable, and said it has taken actions to "get control over our business risks." Historian Charles Guy says profit has always been king on Wall Street, no matter the risk. "The ethics are very simple…uh… It’s 'make money now, let someone else clean up the mess.'” And what a mess it is! Analysts we spoke to today say even with today’s loss, Citi is still at risk to lose billions more. Betsy Stark, ABC News, New York.

still another : 게다가 또하나의 ex. I’ve found still another mistake. 게다가 또 하나 잘못을 발견했다. dose : (약의 1 회분) 복용량, (약의) 한 첩, (비유적) 쓴 약, 약이 되는 것, (충고 따위의) 한마디 ex. take medicine in small doses 조금씩 약을 복용하다 / ex. a lethal[a fatal] dose 치사량 * dose of : an amount of something bad that happens to you ex. I've just had a nasty dose of flu. ex. Local people were exposed to high doses of radiation. tumble : 구르다, 뒹굴다, 넘어지다, (가격 ·가치 따위가) 폭락하다, 뒹굴기, 추락, (주가 따위의) 하락, 폭락 word : 말, 단어, 한 마디 말, 이야기, [보통 무관 사로] 기별, 소식 (news, report), 전언 ex. I'd like a word with you. 잠깐 얘기할 것이 있다.   ex. Word came that ~ : ~ 라는 기별이 왔다. quarterly : 연 (年) 4 회의, 3 개월마다 한 번의, 4 분의 1 의, 계절마다의, 분기의, 연 4 회 간행물, 계간지 ex. a quarterly magazine 계간지 write off : <빚 등을> 장부에서 지우다, 탕감하다, 상각 하다, ~ 이 가망이 없다고 단념하다 (to decide that someone or something will not succeed and stop giving them your attention and energy) ex. The US government agreed to write off debts of $170 billion. ex. After five years you can write the equipment off for tax. ex. His teachers had written him off. staggering : 비틀거리는, 비틀거리게 하는, 깜 짝 놀라게 하는, 압도 [경이] 적인 * stagger 비틀거리다, 비틀거리게 하다, 흔들거리게 하다, 깜짝 놀라게 하 다, 망연자실하게 하다 mortgage : 저당, 주택 융자, 모기지, ~ 을 저당 하다 ex. hold a mortgage on a person's house 의 집을 저당잡다 / ex. The estate is mortgaged. 그 대지는 저당이 되어 있다. * take out a mortgage 모기지융자 받다 instrument : 기계, 기구, (비행기 등의) 계기, 악기, 증서, 유서, 계약서/ A legal document, such as a deed, will, mortgage, or insurance policy ex. musical instruments 악기 / ex. surgical instruments 외과용 기구 bubble : [종종 pl.] 거품, 기포, 거품이 일다, 거 품이 일게 하다 ex. lose everything in the real estate bubble 부동산 거품으로 모든 것을 잃다 * bubble up : 비등하다, 부글부글하다 / to increase and become more obvious ex. Tension could bubble up again at any time. * bubble over 거품이 일어 넘치다, 흥분.열광을 억제하지 못하다 * the bubble bursts : If the bubble bursts, a very happy, pleasant or successful time suddenly ends ex. Three years into her marriage, the bubble burst. * housing bubble : 주택가격 거품 skyrocket : 하늘로 솟아 오르다, <물가가 > 급등하다, 급등시키다 loose : 풀린, 헐거운, 느슨한 * be on the loose : <죄수가> 도망치다 (상태)  /if a dangerous person or animal is on the loose, they have escaped from where they were being kept * break loose : 탈출하다, 속박을 벗어나다. ex. The dog broke loose. 매어둔 개가 달아 났다. * at large : 상세히, 충분히, <범인 등이> 잡히지 않고, 도주중인 ex. The murderer is still at large. 살인범은 아직도 체포되지 않았다. be tied to ~ : ~와 관계가 있다. 연계되어 있다. * tie : [pl.] 인연, 연줄, 유대, (경기 선거 등에서) 동점, 무승부 ex. have close ties with[to] …과 밀접한 관계가 있다. ex. The treaty should strengthen ties between the two countries. heresy : (기독교에 대한) 이단, 이교, 이단 신앙[행동], (기 성의 학설·정설에 반대되는) 사론(邪論) feed : 음식[먹이] 을 주다, <식물에> 비료를 주다, <유아에게> 젖을 주다, <램프에> (기 름을) 넣다; <원료·재료 등을> (기계 등에) 공급하다, <정보 등을 > (사람·컴퓨터에) 제공하다, 입력시키다 ex. feed a baby 아기 에게 젖을 먹이다. / ex. feed a printing press with paper 인쇄기에 종이를 공급하 다. / ex. feed oil to the lamp : 램프에 기름을 넣다.   ex. feed the data into a computer 컴퓨터에 자료를 집어넣다 / ex. feed a person's anger 화를 돋우다 * breast-feed : ( 아이 ) 에게 모유을 먹이다 (cf. bottle-feed 분유를 먹이다)    frenzy : 격분, 격앙, 광포, 광란, 격분하게 하 다 / great excitement or wild behaviour that often results from losing control of your feelings. ex. `Get out!' she ordered in a frenzy. * buying frenzy 구매 열풍 * feeding frenzy : 먹이 (감) 에 달려드는 광란 상태, 먹이 쫓기 경쟁, 특종 기사를 찾아다니는 열광 상태, 과열 보도 경쟁 exotic : (동식물 등) 외국산의, 외래의, 이국적 인, 색다른 bundle : 묶음, 다발, 꾸러미, (속어) 거금, 다 발 [꾸러미] 로 하다 / to include (a product or service) with a related product for sale at a single price bust : 파열 [폭발]시키다, 때리다, 부수다, (현 행범으로) 체포하다 , <경찰이> 급습하다, 현장을 덮치다, 체포, (경찰 의) 습격 / by police officers * raid : 급습, 기습, 공습 (=air raid), (경찰의) 현장 급습, 불시 단속, 급습 [공 습]하다, <경찰이> 불시 단속하다 / by the military or police officers * go bust 파산하다 (= go bankrupt, go into bankruptcy) ex. He's been busted for drug trafficking. 마약거래로 체포되었다. ex. The police busted the drug factory yesterday. get [have] control over [of]~ : ~을 관리하다, 제어하다, 통제하다 ethics : (단수취급)윤리학, (복수취급)윤리 * business ethics  상도덕,  기업윤리 mess : 1. 혼란, 뒤죽박죽, 엉망진창 2. 곤경, 분규, 궁지 (a difficult situation with a lot of problems, especially because people have made mistakes) ex. The garden was a real mess. ex. "What a mess!"she said, looking at the kitchen. * make a mess: Try not to make a mess because I've been cleaning. / ex. an economic mess * be in a mess: ex. The company was in a complete mess when she took over. even with~ : ~에도 불구하고 at risk : 위태로운 * put ~ at risk of ... : ~ 를 ... 의 위험에 빠뜨리다

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