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Madoff mess: Another black eye for banks
Although Citigroup and other big U.S. banks haven't been hit in the Madoff scandal so far, this is another example of the sorry state of the financial industry.
Colin Barr, senior writer
Last Updated: December 16, 2008: 10:09 AM ET

NEW YORK (Fortune) -- The losses in the Madoff mess are still being tallied. But even if U.S. financial firms avoid a big hit, this episode won't exactly bolster their tattered reputation. More
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