Analyst: Citigroup Is Cooking the Books

Headline should read who's not cooking their books? Generous accounting flexibility allows financial firms to reports earnings that do not exist. This is hardly a news flash.

An all-out war has broken out between Citigroup CEO Vikram Pandit and a prominent securities analyst who is saying that the big bank may be cooking the books by inflating its earnings through an accounting gimmick, FOX Business Network has learned.

Source: foxbusiness.com