Where Are The Prosecutions? SEC Lets Citi Execs Go Free After $40 Billion Subprime Lie
AlterNet • Jul 30, 2010The SEC just hit two Citigroup executives with fines for concealing $40 billion in subprime mortgage debt from investors back in 2007. The biggest fine is going to Citi CFO Gary Crittenden, who will pay $100,000 to settle allegations that he screwed over his own investors. The year of the alleged wrongdoing, Crittenden took home $19.4 million. That's right. Crittenden will lose one-half of one percent of his income from the year he hid a quagmire of bailout-inducing insanity from his own investors. That's it. No indictment. No prison time. Crittenden doesn't even have… Full Story »
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Topics:
- Economy
- Democracy
- Robert E. Rubin
