Tag Archives: Citigroup

Feb 23 2009

Federal government is in talks with Citigroup Inc. to increase its ownership stake in the troubled bank (nationalization?)

bambie

The federal government is in talks with Citigroup Inc. to increase its ownership stake in the troubled bank, the Wall Street Journal reported Sunday, citing sources the newspaper did not identify.

The government could take as much as a 40 percent share of Citigroup’s common stock, stoking fresh speculation about the nationalization of several large U.S. banks amid steep losses in the financial sector and potentially triggering a new round of stock selling when the markets open on Monday. Read more

Its starting!! “New World Order” comes to mind!

LINKS:

(1) Every American Will Pay the Price of Gross Ignorance: Obama Supporters Will Get ‘Chains’ instead of ‘Change’
Life, property, speech and guns, are at the foundation of American freedom and the corrupt Chicago cabal now in charge, is aggressively coming after all of them.

Obama’s “economic bailout” is a global socialist buyout of the U.S. free market system. ALL private property is under siege, as advised by George Soros

Jan 31 2009

Six Democratic members of Congress enjoyed a Caribbean junket sponsored by Citigroup after Congress had approved the $700 billion bailout (Holy Cow!!!)

Six Democratic members of Congress enjoyed a Caribbean junket sponsored by Citigroup after Congress had approved the $700 billion bailout of financial services firms in October.

The National Legal and Policy Center, a watchdog group, has asked Neil Barofsky, the Special Inspector General for the Troubled Asset Relief Program, for a formal review of the Citigroup’s sponsorship of the trip by House Ways and Means Committee Chairman Charles Rangel and five others.

The NLPC says the trip violated House rules. 

Citigroup should have also been aware that corporate sponsorship of such an event was banned by House rules adopted on March 1, 2007, in response to the [lobbyist Jack] Abramoff scandal and the infamous golf trip to Scotland.”

In addition to Rangel, other members of Congress who attended were Donald Payne of New Jersey, Sheila Jackson-Lee of Texas, Carolyn Cheeks Kilpatrick of Michigan, Bennie Thompson of Mississippi, and Donna Christensen, the delegate to the House from the United States Virgin Islands.

 Read More

The democrats are really out to make Barack Obama look worst than he is…two top picks (Tom Daschle) didn’t pay their taxes and now Six Democratic members of Congress enjoyed a Caribbean junket from a tax money give away to Citigroup! When will the American people say enough is enough?

LINKS:
(1) What will the Bend Over Republicans do with tax cheat Tom Daschle?
(2) Daschle’s Disaster

Dec 8 2008

A new Citigroup scandal is engulfing Robert Rubin and his former disciple Chuck Prince for their roles in an alleged Ponzi-style scheme that’s now choking world banking.

A new Citigroup scandal is engulfing Robert Rubin and his former disciple Chuck Prince for their roles in an alleged Ponzi-style scheme that’s now choking world banking.

Director Rubin and ousted CEO Prince – and their lieutenants over the past five years – are named in a federal lawsuit for an alleged complex cover-up of toxic securities that spread across the globe, wiping out trillions of dollars in their destructive paths.

Rubin and other top insiders were able to keep Citi shares afloat until they could cash out more than $150 million for themselves in “suspicious” stock sales “calculated to maximize the personal benefits from undisclosed inside information,” the lawsuit said. 

In addition to Citigroup, Rubin and Prince, the complaint names Vice Chairman Lewis Kaden, ex-CFO Sallie Krawcheck and her successor CFO Gary Crittenden.

Rubin cleared $30.6 million on his stock sales, while Prince got $26.5 million, former COO Robert Druskin got nearly $32million and former Global Wealth Management unit chief Todd Thomson got $25.7 million, the suit said.

SOURCE: NEW YORK POST

Wonder what will come out of this scandal and what other names might just pop up?