Citi shares in record slump, credit-default swap spreads widen

Date: Wed, Nov 19, 2008 at 5:01 PM EDT

Citi shares in record slump, credit-default swap spreads widen

Citigroup's credit-default swap spreads widen and its shares fall after the
bank takes on more than $17 billion in assets from structured investment
vehicles and shuts another hedge fund.

THE FED: FOMC SEES YEARLONG RECESSION, MINUTES SHOW

Federal Reserve policymakers now expect the U.S. economy to contract for as
much as a year, with the risk that the slowdown could persist for even longer,
according to edited minutes of a closed-door meeting of the Federal Open Market
Committee.

COMMERCIAL MORTGAGE SECURITIES LATEST TO SHOW DISTRESS

Risk premiums on commercial mortgage-backed securities have spiked in the past
week, making this corner of the debt market the latest to show signs of
mounting distress.