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User_gary Posted 18 years ago
Grammar
to post, mortgage-backed securities
Risky subprime loans delivered a huge blow to the financial services giant. The mortgage meltdown forced Citigroup to post the worst fourth-quarter loss in its 196-year history: $10 billion. The company also had to write down $18.1 billion on mortgage-backed securities and cut its dividend by 41%. Chief Executive Charles Prince was shown the door, and the company's shares fell 47%, making it the worst-performing Dow Jones industrial average component in 2007.
Please explain the emboldened parts.
Please explain the emboldened parts.
Top answer
Post = record. This verb actually means to 'transfer accounting entries from a journal of original entry into a ledger book', but in this sort of context it also means 'announce, present'. Mortgage-backed securities = A type of asset-backed security that is secured by a mortgage or collection of mortgages.
- Post = record.
- This verb actually means to 'transfer accounting entries from a journal of original entry into a ledger book', but in this sort of context it also means 'announce, present'.
- Mortgage-backed securities = A type of asset-backed security that is secured by a mortgage or collection of mortgages.
- When you invest in a mortgage-backed security you are essentially lending money to a home buyer or business.
- An MBS is a way for a smaller regional bank to lend mortgages to its customers without having to worry about whether the customers have the assets to cover the loan.
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1 Answers
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Post = record. This verb actually means to 'transfer accounting entries from a journal of original entry into a ledger book', but in this sort of context it also means 'announce, present'.
Mortgage-backed securities = A type of asset-backed security that is secured by a mortgage or collection of mortgages. When you invest in a mortgage-backed security you are essenti
Post = record. This verb actually means to 'transfer accounting entries from a journal of original entry into a ledger book', but in this sort of context it also means 'announce, present'.
Mortgage-backed securities = A type of asset-backed security that is secured by a mortgage or collection of mortgages. When you invest in a mortgage-backed security you are essenti
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