SEC Probes Citi Over Subprime Mortgage Business

SEC investigates Citi’s subprime business

* SEC probes Citi over subprime mortgage business

* Probe includes “ongoing inquiry” into Citi’s CDOs

NEW YORK Feb 25 (Reuters) – U.S. regulators are investigating Citigroup Inc’s (C.N) subprime mortgage bond business, the bank said in a regulatory filing.

The U.S. Securities and Exchange Commission and other regulators are “investigating Citigroup’s subprime and other mortgage-related conduct and business activities, as well as other business activities affected by the credit crisis,” according to the bank’s annual report filed late on Friday afternoon.

The SEC’s probe extends to “other business activities affected by the credit crisis, including an ongoing inquiry into Citigroup’s structuring and sale of (collateralized debt obligations),” the bank said.

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2 Responses to “SEC Probes Citi Over Subprime Mortgage Business”
  1. l vent says:

    WOW, really? They have known about the mortgage fraud and the fraudulent business model the mortgage industry were using since at least 2004 when the FBI blew the whistle on them. The FBI warned our Government that a catostrophic financial crisis was going to happen if something was not done then. William Black spoke about this and said that the Bush administration knew about the fraud and had plenty of time to fix the problems and stop a crisis from occuring but DID NOTHING. . Again a day late and a dollar short and there still is no real political will to fix this broken system of rampant corruption. They are still kicking the can down the road and allowing the banksters and Wall Street to continue with their rogue behavior that is bankrupting America and they are still aiding and abetting them by continuing to prop them up using the FED and their fiat money printing machine to allow the ongoing criminal enterprise to rob America of our wealth while creating enormous debt for the private sector. Time to organize and take it to the streets. If we continue to wait for our corrupt Government to fix theses dire financial problems we are facing it will never go away and we will have hell to pay later when it again collapses and then causes another Great Depression the likes of never seen before in history, The criminals must be forced to put back the stolen wealth and the monopolies that are causing America to become an Oligarchy run by dictators must be broken up. The American people have to stop paying and being forced to pay for the ongoing robbery of or wealth and therefore our freedom. A country in debt is not a free country and the elite know this. This continuous debt creation they are using to prop up and save the Oligarchy will ultimately break the backs of the American people and destroy America as it will no longer be a country of free will for the people by the people.. It will be a fascist dictatorship ruled by an Imperialist Oligarchy. We are almost there, Wake up America. America will be living like the proles in George Orwells book 1984. They are already spying on ALL OF UD and that is truly despicable and completely UNAMERICAN..

    • l vent says:

      Correction of my misspelling they are already spying on ALL OF US AND THAT IS UNAMERICAN AND COMMUNIST TO SAY THE LEAST IT IS TRULY DESPICABLE.

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