Citi's RECLASSIFIED balance sheet

[Jeff Tumbarello]

Check out Citi's quarterly balance sheet - they're down 120B in assets, have reclassified ALL prior year quarterly/YE balance sheetswithout saying a word as to why.

Heck, just watch the Q3/Q4 blowout of the TARP monies alone, then try to figure out how they got the TARP funds, REDUCED debt AND assets and vaporized the CASH without showing a single increased liability. In fact, the biggest reduction in liabilities was in "other" (non-detailed) liabilities, NOT the entry where one would expect REOs/CDOs/etc to live:

http://www.quote.com/us/stocks/financials.action?sym=C&page=bash&period=q

PS: Citi's earning assets have fallen over $THREE HUNDRED BILLION in a single year, from 1.8T to 1.5T, yet Deposits have only fallen $1B.