Topic “Citigroup”
Citigroup Pays $75 Million to Settle Subprime Claims
Citigroup agreed on Thursday to pay $75 million to settle federal claims that it failed to disclose vast holdings of subprime mortgage investments that were deteriorating during the financial crisis and ultimately crippled the bank.
Read the entire story »Federal Report Faults Banks on Huge Bonuses
With the financial system on the verge of collapse in late 2008, a group of troubled banks doled out more than $2 billion in bonuses and other payments to their highest earners. Now, the federal authority on banker pay says that nearly 80 percent of that sum was unmerited.
Read the entire story »Senate Financial Reform Bill DOESN'T End Too Big To Fail, Major Credit Rating Agency Says
So much for ending Too Big To Fail.
The financial reform bill championed by the Obama administration and Senate Democrats as permanently ending the idea that large, interconnected financial institutions are too big to fail does no such thing, analysts at Moody's Investors Service cautioned today in a new report.
Read the entire story »After Receiving Billions in Bailout Funds, Citigroup Will Limit Lending to the Wealthy
You would think that after receiving billions of dollars in taxpayer bailout funds banks would be show the American people its appreciation. But, if you’re thinking Citigroup, you’d be wrong.
Huffington Post has the scoop:
Citigroup, which has received $45 billion in TARP funds -- in addition to billions in government asset guarantees -- has come up with a brash tax-payer funded restructuring plan: cut U.S. locations and limit most lending to only the wealthy.
CREW Releases Analysis of Credit Card Execs' 2008 Electoral Cycle Political Giving
Washington, D.C. - In light of President Obama’s meeting with credit card executives last month – and the administration’s restrictive new rule on registered lobbyists seeking stimulus funds – Citizens for Responsibility and Ethics in Washington (CREW) analyzed those industry executives’ 2008 election cycle donations to illustrate the influence they wield in government.