Article

2014-07-14 Economy

Citi, U.S. $7 billion settlement announcement expected Monday

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Posted by Fred 2014-07-14 00:00|| || Front Page|| [1 views ] Top

#1
The $7 billion includes $4 billion in cash to the U.S. Department of Justice, $2.5 billion in consumer relief, more than $200 million to the Federal Deposit Insurance Corporation and just under $300 million to settle probes by five states, said sources familiar with the negotiations.

So DoJ just became independent of Congress. Meanwhile the FDIC gets a paltry $200 million to cover what in billions were paid out to depositors of those folded banks caught with the bad paper 5 years ago. While that money went out, the FDIC then stuck banks (and anyone thinking of getting interest on their deposits) with higher stiffer insurance fees (and leveraging their power to classify banks 'at risk' if they dared to have accounts from gun shops/dealers, adult film/video actresses, et al).

Posted by Procopius2k 2014-07-14 08:30|| 2014-07-14 08:30|| Front Page Top

#2 The $7 billion includes $4 billion in cash to the U.S. Department of Justice

Constructing ~~FEMA camps~~ ...refugee detention centers requires a great deal of funding.

Posted by Besoeker 2014-07-14 08:34|| 2014-07-14 08:34|| Front Page Top

#3 Well, IL style kickbacks and cronyism takes a big bite out of that budget.

Posted by Procopius2k 2014-07-14 09:04|| 2014-07-14 09:04|| Front Page Top

#4 Sounds like a shakedown to me. How much of that $4 billion made it into Holder's pocket?

Posted by Ebbang Uluque6305 2014-07-14 11:47|| 2014-07-14 11:47|| Front Page Top

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