Citigroup
Cities, Municipal Bonds and a Potential for Disaster
There’s hope that the U.S. can pull out of this economic slump it’s in, but there’s a potential disaster looming for states that could derail any economic recovery. Meredith Whitney, a financial analyst famed for predicting Citigroup’s major debt fallout, made a new dire prediction. She believes up to 100 U.S. cities could default on […]
Top of the Hour: Primary Results, Federal Reserve Stress Tests, Morning Headlines
All but a handful of the nation’s largest banks have passed stress tests administered by the Federal Reserve. The tests sought to see how many of 19 financial institutions could withstand another recession. Fifteen banks were cleared, and four were reported to not have enough capital to stay afloat in another downturn, including Citigroup, the […]
Judge Rejects Citigroup Settlement Over Toxic Mortgages
A federal judge rejected a $285 million settlement between Citigroup and the Securities and Exchange Commission, objecting to the practice of allowing banks to settle fraud cases without admitting guilt. Citi may now face a trial over the sale of toxic mortgages which cost investors millions but made the bank profit. The judge said the public has a right to “the […]