Wednesday, October 19, 2011

Citibank agrees to pay $285 million fine for selling toxic mortgage assets and BETTING AGAINST THEM. After taking $45 billion in TARP money. That's 0.0063%.

by 8string

http://graphics8.nytimes.com/images/2010/02/01/your-money/01bucks-citibank/blogSpan.jpg



I hope everyone (regardless of their political affiliations) finds this as grotesque as I do.
I bet the folks who've lost their homes would be happy to pay only 0.0063 of their mortgages off.......
source for tarp monies received: http://money.cnn.com/2009/02/03/news/companies/citigroup_tarp/index.htm






source for fine: http://online.wsj.com/article/SB10001424052970204618704576640873051858568.html?mod=googlenews_wsj

This is completely unacceptable IMO.
edit : added link to fine article. edit 2: yes, I forgot to multiply by 100. Stupid mistake, posted to hastily, feel free to ridicule the math if it makes you feel better. :)

No comments:

Post a Comment