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Forum Post: BANKS & WALL ST. ruined job & real estate market & the economy! Through Misleading Public & Investors...NY Times says that Citibank to DISGORGE its PROFITS for creating toxic mortgage pkgs selling them to investors then betting against with DERIVATIVES

Posted 3 years ago on Oct. 23, 2011, 6:46 p.m. EST by FedWallFedWellFedUP (183)
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BANKS & WALL ST. ruined job market, real estate market and the economy! Through Misleading Public & Investors...NY Times says that Citibank AGREED to DISGORGE its PROFITS for creating toxic mortgage packages selling them to investors then betting against clients with DERIVATIVES. Other Banks have agreed to fines as well. More to come...

8 Comments

8 Comments


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[-] 1 points by radical22 (113) 3 years ago

These damages arent going to the people, the money from these settlements are going to other institutions. Corporations paying corporations. This does nothing for the common man or woman

[-] 0 points by FedWallFedWellFedUP (183) 3 years ago

This is the basis now for a class action civil and criminal complaint

[-] 1 points by radical22 (113) 3 years ago

Lots of luck its a waste of time

[-] 1 points by FedWallFedWellFedUP (183) 3 years ago

sister...ok....i am running out now but will look for links in transit...story appeared in NY TIMES on Thursday of last week.

[-] 1 points by MonetizingDiscontent (1257) 3 years ago

Provide some links brother, show the people. Good Post.

[-] 1 points by FedWallFedWellFedUP (183) 3 years ago

here's the link from sister...http://www.nytimes.com/2011/10/20/business/citigroup-to-pay-285-million-to-settle-sec-charges.html?_r=1&hp

[-] 1 points by MonetizingDiscontent (1257) 3 years ago

Yep. Here's another.

Citi agrees to pay $285million after 'defrauding investors in a $1BILLION derivatives deal'

http://www.dailymail.co.uk/news/article-2051130/Citi-agrees-pay-285million-defrauding-investors-1billion-derivatives-deal.html#ixzz1beNsRQpU

They still made BANK. Such a small fine compared to a fortune in profits.

[-] 1 points by FedWallFedWellFedUP (183) 3 years ago

The harm caused in irreparable and Banks and Wall St. must be held accountable to make all parties whole and also pay fines and punitive damages.