>> No, Citibank's "net profit" is a loss of $75K.
>
> Loss on the *original*, now worthless, loan ...
So you want to just ignore that?
> Without the CPPIF the net loss would be $1 million, now
> its $75K. Foregone loss is the same as net profit.
Hah! Does history start today?
Why do you think they are doing this? Because there's no reason to beleive that "old" losses are relevant?
> It went to them long ago. Now its gone.
Yeah, so just wipe it under the rug. Woo!
/jordan