A Slap On The Wrist: Citigroup Settles for $285 Million; No Wall Street Executive Jailed Yet
McClatchy Newspapers - Global banking giant Citigroup has agreed to pay $285 million to settle charges that it misled investors about a complex financial instrument tied to the now-crippled housing market, the Securities and Exchange Commission said Wednesday.
The announcement was unlikely to satisfy critics of Wall Street and Washington's bailout of its banks who've waited years for any major Wall Street executive to be jailed for practices that led to the global financial meltdown in 2008, which still roils the U.S. economy. Read more.
The announcement was unlikely to satisfy critics of Wall Street and Washington's bailout of its banks who've waited years for any major Wall Street executive to be jailed for practices that led to the global financial meltdown in 2008, which still roils the U.S. economy. Read more.
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