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Unformatted text preview: "billions more in CDO and other subprime exposure sat on its books undisclosed to investors." "We are pleased that we have reached agreement with the SEC to put this matter concerning certain 2007 disclosures behind us, and that the SEC is not charging Citi or any individual with intentional or reckless misconduct," said Citigroup spokeswoman Shannon Bell. As we have noted in our bailout tracker , Citi's subprime losses have been massive, and resulted in multiple taxpayer-financed bailouts -- $45 billion overall. Citi execs have in the past said they were "deeply sorry" for . .. not predicting the market collapse . We've reported on some of Citi's specific CDO dealings with a hedge fund called Magnetar, and some of the disclosure questions about those deals as well as others . For more on trouble Citi and others could be facing, check out our bank investigations cheat sheet ....
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This note was uploaded on 04/10/2011 for the course ETHICS 101 taught by Professor Johnson during the Spring '11 term at North Park University.
- Spring '11