Thursday, October 20, 2011

Is $285,000,000 Enough?

Or should Citibank pay higher fines? Should the SEC or other government agencies charge Citibank's executives with fraud?

These questions arise because Citi claims that it has settled all of the SEC claims against it by paying of fine of $285,000,000. But the fine is for only one CDO; Citi issued 18 more of these CDOs around the same time. The SEC seems to say that it may still come after Citi, but that's just window dressing. as now - really yesterday - was when the SEC should have hit Citi and its execs with more charges.

No comments: