What's Missing in Citigroup's $7 Billion RMBS Deal?

, The Litigation Daily


The DOJ cited "the strength of the evidence" warranting Citigroup's $7 billion payment over sales of residential mortgage-backed securities. But there's little evidence to be found in the statement of facts accompanying Monday's deal.

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What's being said

  • Rick Murray

    Thank you for the fine journalistic service.

    In contemplating the reasons behind this evidence-lite mountain of sanction, one might remember that our current Treasury Secretary was senior in the Citi chain of command during the years of blamed activity, and that the immediately prior Secretary was during those years the most directly responsible federal regulator. It might have been difficult to dip into the evidence without taking a selfie.

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