Citi's $900 Million 'Clerical Error' Is Worst Wall Street Bungle in a Long Time

(Bloomberg) -- Even for Citigroup Inc., it was big money. On Wednesday, loan operations staff at the New York bank wired $900 million, seemingly on behalf of Revlon Inc., to lenders of the troubled cosmetics giant controlled by billionaire Ron Perelman.It was a mistake for the ages -- a “clerical error,” as Citigroup told lenders -- that’s now plunged the bank into a battle between the Perelman empire and a corps of sharp-edged investment funds that have become its impatient cr