“This is more of an accounting move...
- Share via
“This is more of an accounting move than a really bad development. A really bad development would be if the Communists took over Brazil and repudiated their debts.”
--Raphael Soifer, analyst for Brown Bros. Harriman & Co., on Citicorp’s decision to add $3 billion to its reserves because of problem loans to Latin American and other Third-World borrowers.
Sign up for Essential California
The most important California stories and recommendations in your inbox every morning.
You may occasionally receive promotional content from the Los Angeles Times.
