rhubarb

SEC Lets Citi Executives Go Free After $40 Billion Subprime Lie

Zach Carter, AlterNet: "The SEC just hit two Citigroup executives with fines for concealing $40 billion in subprime mortgage debt from investors back in 2007. The biggest fine is going to Citi CFO Gary Crittenden, who will pay $100,000 to settle allegations that he screwed over his own investors.

"The year of the alleged wrongdoing, Crittenden took home $19.4 million. That's right. Crittenden will lose one-half of one percent of his income from the year he hid a quagmire of bailout-inducing insanity from his own investors. That's it. No indictment. No prison time. Crittenden doesn't even have to formally acknowledge any wrongdoing."

Have the rich and powerful always been able to get away with murder?




	rhubarb Home Get Email Updates AUTOBIOGRAPHY Demented Diary Going Wodwo Crochet Lady Dan Gent Sue Woodstock ***Bloglines*** Sky Friday John Kindle Daily Deal Email Me Admin Password Remember Me 2411518 Curiosities served Share on Facebook				2010-07-31 10:33 AM Outraged Previous Entry :: Next Entry Read/Post Comments (7) SEC Lets Citi Executives Go Free After $40 Billion Subprime Lie Zach Carter, AlterNet: "The SEC just hit two Citigroup executives with fines for concealing $40 billion in subprime mortgage debt from investors back in 2007. The biggest fine is going to Citi CFO Gary Crittenden, who will pay $100,000 to settle allegations that he screwed over his own investors. "The year of the alleged wrongdoing, Crittenden took home $19.4 million. That's right. Crittenden will lose one-half of one percent of his income from the year he hid a quagmire of bailout-inducing insanity from his own investors. That's it. No indictment. No prison time. Crittenden doesn't even have to formally acknowledge any wrongdoing." Have the rich and powerful always been able to get away with murder? Read/Post Comments (7) Previous Entry :: Next Entry Back to Top