Take it for what it is worth but the announcement that Citi was going to sell 'non-core' assets was the last straw for me and shouted that it was still significantly capital impaired and now forced to sell assets to remain solvent.
If you look at the financial statements of these banking institutions, they have significantly increased their level 3 assets. This in itself is not bad but a dire warning that they are fudging on the valuation of their assets until the value either rise or they are able to raise more capital.
Search google for 'naked capitalism' and the first listing is a good economic \ financial blog that recently discussed the Citi situation.
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