mortgage crisis

Citi pays $75 million to SEC: another win or another failure for the economy?

July 30, 2010 - 4:02am | Banks and internet banks | News

Citi achieved the settlement with the US Securities and Exchange Commission under which Citigroup Inc will pay $75 million. The settlement comes after the SEC’s probe into the Citi’s failure to disclose subprime exposure to investors in 2007.

Apart from this SEC also charged Citi executive and a former chief financial officer of misrepresenting the bank's exposure, although not with intentional misconduct.

Citigroup | financial crisis | mortgage crisis | SEC | subprime exposure

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E-Trade may receive more investment from Citadel

June 10, 2009 - 10:51am | Investment industry | News

According to a recent report E-Trade Financial Corp. is working with largest shareholder Citadel investment Group on ways to steady its financial position. As reported by the Wall Street Journal while there is no information about the terms of the deal negotiations between E-Trade and hedge-fund outfit Citadel have been going on for several weeks with prospects of increasing E-Trade's fortunes.

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U.S. economy improves but the recession is not over as banks need $74.6 billion

May 21, 2009 - 7:00am | Analytics | News

Alan Greenspan, Former Federal Reserve Chairman stated that while the U.S. economy and financial markets had improved, banks faced a capital shortfall, which could negatively affect lending obstructing recovery.

The comments came after the results of the regulatory "stress tests" of banks released by the U.S. Treasury Department and top banking regulators.

Alan Greenspan | banking | home prices | mortgage crisis | stress test

1 point

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