WESTCHESTER COUNTY, N.Y. (TheStreet) -- Much of the media engaged in a game of Mad Libs on Citigroup's (C - Get Report) earnings, reported yesterday. The given text involved Citigroup's earnings, 74% and $3.8 billion. The media just had to supply the excited verb. Look at The New York Times, which went with: "Citigroup Earnings Rise 74% to $3.8 Billion." The Financial Times, for its part, ran a slight variant: "Citigroup earnings jump 74% to $3.8bn."The only problem? Well, it's a biggie. The 74% and $3.8 billion were the product of a $1.9 billion, one-time accounting fluke. Using the 74%/$3.8 billion as a showcase headline is delusional, something only the media--no trader--would do.
They Just Don't Get Citigroup!
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