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Posts Tagged ‘Corbat’

Citi’s $7Bln Settlement: Truth and Justice Delayed Is Truth and Justice Denied

Posted by Larry Doyle on July 14th, 2014 11:40 AM |

Running down the clock used to be a strategy employed by renowned North Carolina basketball coach Dean Smith to win many a game. College basketball ultimately employed a shot clock to keep the games going.

Perhaps the Department of Justice should also have some sort of effective ‘shot clock’ imposed upon it in certain circumstances. Why so?

Just look at the announcement today (July 14, 2014) that Citigroup is paying a $7 billion fine to settle an array of egregious practices involved in transactions the firm brought from 2003 to 2008.  The WSJ offers that AG Eric Holder will provide the following details: (more…)






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