Citigroup, accused of defrauding investors by disguising loans to the fallen energy trader, agrees to pay $2 billion. It denies any illegality.
What a corrupt system. Massive fraud, no one goes to prison, and they get to say here’s the 2 billion but we did nothing wrong. And then analysts, instead of advising that clients run from this moral cripple of a company, applaud saying this will certainly help boost that all-important stock price. In much of corporate America, there’s not even the pretense of caring about ethics anymore.