Tagged: federal bailout

Citigroup pays to settle subprime claims

Without admitting guilt, Citigroup will pay $75 million to settle federal civil claims that it failed to disclose vast holdings of subprime mortgage investments that crippled the bank during the financial crisis.  Law Professor Cornelius Hurley, director of the Morin Center for Banking and Financial Law and a former counsel to the Federal Reserve Board […]

AIG bill still hitting taxpayers

The Congressional Oversight Panel says in a scathing report that the government failed to exhaust all options before bailing out the insurance giant American International Group – although the rescue did help the financial system avert collapse.  Nonetheless, the watchdog panel says taxpayers may never be paid back all of the $182 billion funneled to support AIG.  […]