It seems that hubris continues to fly in our beloved major financial institutions. Large banks, including Citi, have understated the debt levels used to fund securities trades for the past five quarterly periods according to the Fed of New York. The practice, while legal, gives investors a distorted picture of what banks' risk levels really are for the majority of the time. They lower the level right before they report publicly and then raise it back up right after. Did we not learn anything from the "crisis" we just went through? Someone make it stop, please!