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 11 years ago on Oct. 23, 2011, 6:46 p.m. EST by FedWallFedWellFedUP
This content is user submitted and not an official statement
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...
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
This is the basis now for a class action civil and criminal complaint
Lots of luck its a waste of time
sister...ok....i am running out now but will look for links in transit...story appeared in NY TIMES on Thursday of last week.
Provide some links brother, show the people. Good Post.
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
Yep. Here's another.
Citi agrees to pay $285million after 'defrauding investors in a $1BILLION derivatives deal'
They still made BANK. Such a small fine compared to a fortune in profits.
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.