Citigroup

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- Heat on Citigroup case
  Posted by SoxFirst
  Investment banks and brokers have made a last minute bid to intervene in the Australian corporate regulator’s insider trading lawsuit against Citigroup. The bid comes on the request of a prominent investment bank in New York which is pretty worried about the case.
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- More on the Citigroup lawsuit
  Posted by SoxFirst
  More developments this week in the Australian corporate regulator's lawsuit against Citigroup for insider trading and failing to manage the conflicts of interests involving its proprietary trading.
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- Citigroup prop trading litigation
  Posted by SoxFirst
  Significant developments in the Australian regulator’s insider trading case against Citigroup. The court documents filed today could rewrite the rules for investment banking worldwide by banning proprietary trading, the bread and butter for investment banks everywhere.
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- Citigroup headaches: now it's Korea
  Posted by SoxFirst
  More problems for the world's biggest bank with raids on the Seoul office of Citigroup Global Markets. That’s on top of the problems Citigroup has had with regulators after a computer glitch botched nearly 300,000 transactions, and in Australia where it’s being sued by the corporate regulator for insider trading.
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andrewharry comments on:
Banks pushed home equity lines and debt culture

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1:41 am 11/20/08
mozellagi2000 comments on:
Banks pushed home equity lines and debt culture

Thanks ! What a refreshing dialog.
Here is the scenario that drives me crazy. The person gets a 125 % loan. They buy a Harley with the equity. Value, economy or other factors create downturn. They lose the house and the Harley.
Here is the one that makes sense. Person takes a reasonable home equity loan, up to 80%(I happen to like the term) Invests in the home, value remains at a point that they can sell and pay the off mortgage. That person can bail at any time and not need help from anybody.
The government cannot fix the fact that people can make bad decisions with money they have in their pocket, where ever the money might come from.
Banks are right to give people options with equity. The problem is we are taking away the stigma of bankruptcy and allowing the same people to make the mistake over and over. "I can fix your credit score" ! "Bad Credit No Credit, it doesn’t Matter" They might as well say " I can get you buried in debt again !" These are the phrases the government should go after.

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9:08 am 8/16/08
kevin11790 comments on:
Banks pushed home equity lines and debt culture

Wow – another news story designed to encourage Americans to NOT take ownership for their own actions. Banks are businesses – they made poor decisions – they should suffer the consequences. Nobody forces you to signed on the dotted line for a home equity loan or for a variable APR. If you can’t afford it – DON’T BUY IT. Stupidity always has a price.
The ONLY reason that the government should step in and intervene at all is if the overall effect on the economy would be so profound as to affect the entire country – NOT because a bunch of people forgot that you can’t spend 2/3 of your pay on your house.

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5:16 pm 8/15/08
Jeff comments on:
Banks pushed home equity lines and debt culture

Interesting story about corporations search for profit quickly rolling over the ethical concerns of a minority of its employees…and reshaping our culture in the process. Interesting story earlier this week of same corporations now doing it in Turkey.

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10:48 am 8/15/08