"Citigroup Faces Quarterly Loss as Charges Soar and Reserves Build"

Citigroup warned investors that charges related to the decline of the Argentine peso and restructuring efforts came in significantly higher than previously disclosed, potentially leading to a $1 per share fourth-quarter loss. CEO Jane Fraser's restructuring aims to make the bank leaner and more profitable, but the increased charges have raised concerns about the bank's credibility with investors. Despite skepticism, banking analyst Mike Mayo recommends Citigroup stock, noting its potential for growth.