Just as the US AG announces a $7 billion dollar fine settlement with Citigroup for another round of illegal, “egregious misconduct”, Citi today announces a flashy earnings “beat”. Executive bonuses are now assured another quarter. Clearly still zero deterrent effect on tax-payer subsidized, illegal acts by the banking cartel.
Bloomberg’s Keri Geiger and Phil Mattingly examine Citigroup paying $7 billion in fines and consumer relief to end a U.S. government claim that it misled investors about the quality of mortgage-backed bonds and what the agreement may mean for other banks facing possible probes and penalties. Here is a direct video link.