“This is more of an accounting move...
“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.
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