The Citibank Memo Take-Down

Citi contacted Doug Henwood of LBO demanding that a memo from early 2009 be taken off his site. They cited the DMCA. Econ blogger Bradford DeLong argues that the document is part of the historical record, of how Citi perceived the government's response to the economic crisis.

Attached to this blog post is another copy of this memo. It basically says the Citi analysts thought the government was going pretty easy on banks, and that they were predicting high unemployment in 2009 and 2010, along with huge price declines in house prices. So, they knew what was happening all along.

Andrew Leonard at Salon has an enriched telling of the story.

Update April 3, 2011: Citibank has sent a takedown notice (a DMCA thing). So to avoid a lawsuit, I'm going to comply. I'll post more information about the specifics of the takedown later. Hopefully, someone else has a copy of this document to share.