Almost every multinational banking scam involves Citibank. I've been listing Enron, Ohio, California, Mexico, Russia and some of the others here and at Citibankisracist blog, but now here is yet another case closer to home and ongoing even. I have notified the authors of this 2009 Wall Street Journal story, "Citi, SEC Are in Talks to Settle Asset Probe." I'll tell you whose assets are getting probed: Those of the American Public if you catch my drift.
"Citigroup Inc. is in the early stages of negotiating with the Securities and Exchange Commission to settle an investigation into whether it misled investors by not properly disclosing the amount of troubled mortgage assets it held as the market began to implode in 2007, people familiar with the matter say.
Among issues being debated inside the SEC is whether, as a recipient of government-rescue funds, Citigroup should pay a large penalty in the case. There is concern at the SEC about the notion of financial firms in effect using taxpayer money to pay penalties, people close to the situation say. Citigroup received $45 billion from the government's Troubled Asset Relief Program and plans to raise an additional $5.5 billion in capital from private investors."
Wowzers. Yet another instance of a design, pattern and practice of corporate deception, a Corporate ne're do well foisting its malfeasance unto the shoulders of the American (and World) Public. We are dealing with the lowest of the low. MCAD will have to fumigate the hallways when these guys walk in, what a bunch of corporate scum-sucking rats. Friday's filing.