Keyword: citibank

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  • Cruz has More Cash on Hand than the RNC

    02/03/2016 11:58:19 AM PST · by GodGunsGuts · 87 replies
    Conservative Review ^ | February 3, 2016
    One of the key metrics on the strength of a campaign is how well their fundraising, and allocation of resources are going. In that measure Ted Cruz's campaign is on fire. According to FEC reports, for the most recent filing period, Ted Cruz had more cash on hand than the Republican National Committee. For the period ending on December 31, 2015 Cruz reported having $18,734,794.46 cash on hand. For the same end date the Republican National Committee had $18,723,782 on hand. Cruz had about $11,000 more in his war chest than the RNC. It shows a particular strength for his...
  • Cruz blasts Trump's ties to Democrats

    01/18/2016 2:33:22 PM PST · by Isara · 213 replies
    The Hill ^ | January 18, 2016 | Jordain Carney
    Sen. Ted Cruz (R-Texas) blasted 2016 rival Donald Trump on Monday, questioning his ties to Democrats and previous support for liberal positions as the two battle for the top spot in Iowa."If he's giving checks to Democratic politicians and he supports their views... then it starts to suggest, 'gosh if he publicly supports their views if he finances their causes,'" Cruz told Boston radio station WRKO. "Then suddenly when he announces as a candidate for president, every single one of his views changes - listen if he has had a change of heart, I am thrilled." Cruz, who is competing...
  • Controversial [new Cruz PAC ad - video]

    01/17/2016 5:42:07 PM PST · by TBBT · 309 replies
    Youtube ^ | 1/17/16 | Reigniting the Promise
    What does Donald Trump really think about Ted Cruz? Watch this video to see what he says behind closed doors.
  • ICYMI: Donald Trump Booed in South Carolina for attacking Ted Cruz

    01/16/2016 7:44:48 PM PST · by Isara · 54 replies
    Cruz News ^ | January 16, 2016
    "Donald Trump can typically do no wrong - until he attacks Ted Cruz."HOUSTON, Texas — Today, at a rally held in Myrtle Beach, SC, New York billionaire Donald Trump attempted to attack Ted Cruz using a New York Times hit piece and was booed by the crowd. Watch the video here:Donald Trump Booed for Attacking Ted Cruz (Video)NBC News: Donald Trump Booed By Conservative Crowd After Attacks on Ted Cruz Among conservatives, Donald Trump can typically do no wrong - until he attacks Ted Cruz.On Saturday, Trump drew boos from a grassroots conservative crowd during remarks at the South Carolina...
  • Trump slams Cruz as a hypocrite

    01/16/2016 1:42:16 PM PST · by Red Steel · 71 replies
    wftv ^ | 4:09 p.m. Saturday, Jan. 16, 2016 | Bill Barrow
    (AP) Donald Trump is slamming Republican presidential rival Ted Cruz as a "great hypocrite" for tapping big financial institutions for loans while portraying himself as an anti-establishment outsider. Trump kept the new feud between the two front-runners alive in New Hampshire and on Twitter before a tea party convention in South Carolina at which both are appearing. ... Trump challenges Cruz for taking loans from Goldman Sachs and Citibank when he was running for his Texas Senate seat.
  • After getting stuck, Cruz quips: 'Who put Trump in charge of the elevator?'

    01/16/2016 1:44:29 PM PST · by jimbo123 · 52 replies
    The Hill ^ | 1/16/16 | Bradford Richardson
    Republican presidential candidate Ted Cruz on Saturday was briefly trapped in an elevator before giving a speech at the South Carolina Tea Party Convention. The Texas senator quipped after he was released that GOP rival Donald Trump was to blame. "All right, so who put Donald Trump in charge of the elevator?" he said to reporters gathered outside of the elevator.
  • Cruz failed to disclose second 2012 loan: report (Cruz just notified the FEC on Thursday?)

    01/16/2016 8:55:17 AM PST · by jimbo123 · 91 replies
    The Hill ^ | 1/16/16 | Bradford Richardson
    Sen. Ted Cruz (R-Texas) reportedly failed to disclose a second loan for as much as $500,000 from Citibank to fund his 2012 Senate campaign, according to a letter he sent to the Federal Election Commission (FEC) on Thursday. The disclosure comes after the Republican presidential candidate was already facing scrutiny for failing to adequately report a Goldman Sachs loan of up to $500,000 he also used to fund his 2012 bid. The one-page letter, obtained by The New York Times, said both loans were "inadvertently omitted" from the required filings. The Citibank loan was a line of credit, according to...
  • Media Reports A Second Wall Street Banking Loan “Inadvertently Omitted” By Candidate Ted Cruz…

    01/15/2016 8:25:28 PM PST · by Bratch · 107 replies
    Last Refuge/Conservative Treehousesundance ^ | January 15, 2016 | sundance
    The New York Times outlines another loan for Senate Candidate Ted Cruz that was “Inadvertently Omitted” in 2012 by the campaign team of Heidi and Ted Cruz.   But, no-one seems to ask the key question “why”? There are two issues behind the Wall Street loans which Ted Cruz omitted from his campaign finance disclosures to the FEC, neither of which have anything to do with a candidate taking out an equity line of credit. ♦  The first key issue is a matter of political integrity.  In 2012 Senate candidate Ted Cruz was campaigning against big banks, bank bailouts specifically, and taxpayer funded bailouts...
  • Cruz: 2012 Disclosure Should Have Noted Goldman Sachs Loan

    01/13/2016 7:44:54 PM PST · by proust · 318 replies
    The Texas Tribune ^ | 1/13/16 | Patrick Svitek
    DORCHESTER, S.C. - Responding to a report that said he did not disclose a loan from his wife's employer during his 2012 U.S. Senate campaign, Republican presidential candidate Ted Cruz called the issue a "technical and inadvertent filing error" that he will fix if necessary.
  • Why Are The IMF, The UN, The BIS And Citibank All Warning That An Economic Crisis Could Be Imminent?

    10/10/2015 8:12:07 AM PDT · by Jack Hydrazine · 12 replies
    TheEconomicCollapseBlog.com ^ | 8OCT2015 | Michael Snyder
    The warnings are getting louder. Is anybody listening? For months, I have been documenting on my website how the global financial system is absolutely primed for a crisis, and now some of the most important financial institutions in the entire world are warning about the exact same thing. For example, this week I was stunned to see that the Telegraph had published an article with the following ominous headline: $3 trillion corporate credit crunch looms as debtors face day of reckoning, says IMF. And actually what we are heading for would more accurately be described as a credit freeze or...
  • Eric Holder Returns as Hero to Law Firm That Lobbies for Big Banks

    07/07/2015 8:38:03 AM PDT · by Brad from Tennessee · 14 replies
    The Intercept ^ | July 6, 2015 | By Lee Fang
    After failing to criminally prosecute any of the financial firms responsible for the market collapse in 2008, former Attorney General Eric Holder is returning to Covington & Burling, a corporate law firm known for serving Wall Street clients. The move completes one of the more troubling trips through the revolving door for a cabinet secretary. Holder worked at Covington from 2001 right up to being sworn in as attorney general in Feburary 2009. And Covington literally kept an office empty for him, awaiting his return. The Covington & Burling client list has included four of the largest banks, including Bank...
  • France Terror Heading to US, Oil Crash Equals Market Crash, Obamas Phony Recovery

    01/11/2015 6:50:55 PM PST · by Lorianne · 12 replies
    You Tube/ USA Watchdog ^ | 08 January 2015 | Greg Hunter
    video 15:10
  • Major corporations funding gay indoctrination in elementary schools across America.

    12/29/2014 7:27:53 AM PST · by massmike · 59 replies
    http://massresistance.com/ ^ | 12/29/2014 | n/a
    It's every parent's nightmare, but true: Major U.S. corporations are funding a campaign of sophisticated, psychologically intrusive "gay" indoctrination programs targeting very young children in elementary schools across America. Its part of a very well-planned and well-funded effort to reach children as young as possible without their parents intervention. The national program, called Welcoming Schools, skillfully works on the minds of young children in three ways: (1) Introducing the concept of homosexuality to children. (2) Telling them that homosexuality is normal and natural. (3) Telling them that their parents or friends who portray homosexuality in a less than positive way...
  • Presenting The $303 Trillion In Derivatives That US Taxpayers Are Now On The Hook For

    12/12/2014 6:25:55 AM PST · by coloradan · 57 replies
    Zerohedge ^ | 12/12/2014 | Zerohedge
    Courtesy of the Cronybus(sic) last minute passage, government was provided a quid-pro-quo $1.1 trillion spending allowance with Wall Street's blessing in exchange for assuring banks that taxpayers would be on the hook for yet another bailout, as a result of the swaps push-out provision, after incorporating explicit Citigroup language that allows financial institutions to trade certain financial derivatives from subsidiaries that are insured by the Federal Deposit Insurance Corp, explicitly putting taxpayers on the hook for losses caused by these contracts. Recall: (more at link)
  • The $9 Billion Witness: Meet JPMorgan Chase's Worst Nightmare (Fake Story)

    11/08/2014 9:50:08 AM PST · by Bigun · 14 replies
    Rolling Stone ^ | November 6, 2014 | Matt Taibbi
    Meet the woman JPMorgan Chase paid one of the largest fines in American history to keep from talking By Matt Taibbi | November 6, 2014 "It was like watching an old lady get mugged on the street," she says. "I thought, 'I can't sit by any longer.'" Fleischmann is the central witness in one of the biggest cases of white-collar crime in American history, possessing secrets that JPMorgan Chase CEO Jamie Dimon late last year paid $9 billion (not $13 billion as regularly reported more on that later) to keep the public from hearing. Back in 2006, as a...
  • Mortgage Market Shrinking? Wells and Citi Reduce Mortgage Units as Rates Rise

    07/22/2013 2:36:10 PM PDT · by whitedog57 · 7 replies
    Confounded Interest ^ | 07/22/2013 | Anthony B. Sanders
    I was on Fox Business with Connell McShane and Dagen McDowell talking about the low homeownership rates for Millenials. I mentioned that mortgage rates are expected to rise, hindering a housing recovery. On that note, Kate Berry at American Banker wrote today about the shrinking of mortgage units at lenders. Wells Fargo (WFC) and Citigroup (NYSE:C) are laying off hundreds of employees at their mortgage units, one of the most tangible signs yet of the falloff in refinancings and the painful shift underway in the mortgage market. In the latest Mortgage Bankers survey, mortgage purchase applications remain in a rut...
  • Update: Acting IRS commissioner resigns; Update: Was resigning anyway?

    05/15/2013 10:12:32 PM PDT · by chessplayer · 10 replies
    Update: The first head rolls: O announces that Steve Miller, acting commissioner of the IRS and a man whos known for a year about the agencys targeting of conservatives, is out. Worth noting, though: Miller wasnt commissioner when most of the targeting occurred. That was Doug Shulman, who left in November. Update: So the Miller resignation effectively meant nothing. "Lew took the first step by requesting and accepting the resignation of the acting director of the IRS, Obama said. Its important, he added, to institute new leadership that can help restore confidence going forward. But in an email to IRS...
  • Jacob Lew Received a Million Dollars in Cash From Citigroup During Bailout

    01/09/2013 2:31:56 PM PST · by JohnPDuncan · 4 replies
    The Washington Times ^ | Jim McElhatton
    Jacob J. Lew, President Obamas presumed choice to lead the Treasury Department, has close ties to Wall Street, receiving more than $900,000 in bonus cash from a division of Citigroup just as the company was getting bailed out by U.S. taxpayers. The arrangement, previously reported by The Washington Times, received little scrutiny after Mr. Lew joined the Obama administration in 2009, first as a deputy in the State Department and later as Mr. Obamas budget chief and chief of staff. Mr. Obama has criticized hefty bonuses paid out to Wall Street executives. In his State of the Union address last...
  • Citi Exec to FOX Business: More Cuts Likely

    12/05/2012 9:25:20 AM PST · by mykroar · 4 replies
    FoxBusiness.com ^ | 12/5/2012 | Elizabeth MacDonald
    Citigroup (C : CITIGROUP INC.) tells FOX Business that the 11,000 job cuts announced today -- 4% of its workforce -- wont be the end of layoffs at the nations third-largest bank by assets, deemed "too big to fail" by the U.S. government. On whether today's cuts will be the end, a Citi executive tells FOX Business: In the last quarter, we said on a Wall Street conference call that we would continue to seek ways to optimize. I dont think anyone can come to the conclusion the bank is going to sit back and do nothing else. The executive...
  • So Obama Inherited a Mess, Did He? From Whom?

    09/09/2012 12:58:53 AM PDT · by neverdem · 37 replies
    American Thinker ^ | September 9, 2012 | Jim Yardley
    For the past three and a half years, we have had to endure the nonstop whining of Barack Obama and his surrogates telling us over and over that he inherited the financial mess that required him to add trillions of dollars to the national debt, to run trillion-dollar-plus deficits for each year that he's been in office. Now he is telling us that he needs another four years and trillions more in money borrowed from China to complete the clean-up of the mess he inherited. Well, for once, he nearly has it right. He inherited not simply a financial mess,...
  • Jed Rakoff to SEC: Do you think Im a tool?

    12/29/2011 9:17:50 PM PST · by Rabin · 2 replies
    emptywheel.net ^ | November 28, 2011 | emptywheel
    Judge Jed Rakoff has rejected the SECs proposed wrist slap of Citibank for selling mortgage-backed securities it knew to be of poor qualify. Effectively, what he did was join this complaint with SECs complaintfiled at the same time as they filed the proposed Citi settlementagainst a Citi employee, Brian Stoker, in which the SEC explicitly alleged that Citi knew what it was doing when it dealt shitty securities it intended to short. By doing so, Rakoff imposed the same trial process on this complaint as on Stoker. Effectively, hes saying, If youre prepared to prove that Stoker knew what he...
  • Video From Inside Citibank Branch Shows Arrested Protesters Refusing To Leave

    10/20/2011 1:25:08 PM PDT · by matt04 · 18 replies
    Video from inside the Citibank where 23 Occupy Wall Street protestors were arrested appears to show demonstrators yelling at bank employees and ignoring warnings by security to take their protests outside. We were asked to leave by management, but chose to keep on talking, Elana Carroll told Gawkers Max Read. Our talk was slowing down and coming to a close. We had been inside probably between 10 and 20 minutes total when suddenly we heard doors are being locked now! from one of the men whod been standing in the doorway.
  • 30 LaGuardia Citibank Customers Arrested for Closing Accounts

    10/15/2011 7:00:27 PM PDT · by ranair34 · 31 replies · 1+ views
    Unknown ^ | 10/15/11 | Jim
    Click link to see YouTube video of 30 LaGuardia Citibank customers being arrested for closing their accounts
  • Citibank is next with a new banking fee

    10/02/2011 5:03:42 AM PDT · by TigerLikesRooster · 20 replies
    LAT ^ | 09/30/11 | E. Scott Reckard
    Citibank is next with a new banking fee The Bank of America rival says it will begin charging for checking accounts unless customers keep more on deposit. By E. Scott Reckard, Los Angeles Times September 30, 2011, 6:12 p.m. Another day, another new bank fee. As the uproar swelled over Bank of America Corp.'s planned $5 monthly charge for debit card use, megabank rival Citigroup Inc. was notifying many Citibank customers that they soon would have to start paying for their checking accounts unless they maintained significantly higher balances. Letters are going out across the country alerting Citi customers of...
  • Citibank hits checking accounts with fee

    10/01/2011 12:47:05 PM PDT · by EBH · 41 replies
    UPI ^ | 10/1/11
    U.S. banking giant Citigroup Inc. said this week it would charge $15 per month for checking account holders who kept a balance below $6,000. The firm's move comes on the heels of Bank of America's announcement this week that it would charge $5 for most debit card holders and sparked at least one desertion, the Los Angeles Times reported Saturday. Cheryl Holt of Burbank, Calif., said she was "on my way out the door right now … off to start a new account at my nearest credit union." "Should have done it years before," she added. Holt said she received...
  • Debit Durbin

    09/30/2011 9:22:41 AM PDT · by WOBBLY BOB · 10 replies
    American Spectator ^ | 9-30-11 | John Berlau
    As I detailed here in February in "Dick Durbin Is Stealing Your Free Checking," thanks to price controls on debit card transactions from the Durbin Amendment of the 2010 Dodd-Frank "financial reform" law, free checking is going the way of the dodo bird. The Durbin price controls on interchange fees -- the so-called "swipe fees" that retailers pay to bank and credit unions that process debit card transactions, go into effect this Saturday, October 1, and are already showing more dire effects than originally predicted. Not only is free checking disappearing at a rapid pace -- a new Bankrate.com survey...
  • Standard & Poor's President Resigns

    08/22/2011 7:28:59 PM PDT · by M. Thatcher · 112 replies
    The Wall Street Journal ^ | AUGUST 23, 2011 | JEANNETTE NEUMANN
    Standard & Poor's President Deven Sharma is leaving the credit-rating firm at the end of the year, according to a person familiar with the matter. The credit-rating firm plans to announce Mr. Sharma's exit on Tuesday before the markets open, the person said. Douglas Peterson, chief operating officer of Citigroup Inc.'s Citibank unit, will succeed Mr. Sharma on Sept. 12, that person said.
  • Indonesian Man's 'Interrogation' Death Raises Concerns About Citibank's Use of Debt Collectors

    08/17/2011 7:48:55 PM PDT · by nuconvert · 10 replies
    Citibank is facing scrutiny in an Indonesian small-business man's death after the man reportedly was subjected to a "harsh interrogation" over an unpaid debt. The International Business Times identified the man as Irzen Octa, who was $5,700 in debt on his Citibank credit card. He reportedly was led walking into a room in Jakarta last March but emerged a few hours later in a wheelchair. Investigators presume Octa, 50, was either unconscious or dead by that point, the Times reported.
  • The Muslim Brotherhood's Long-Standing War On The West (US Politicians)

    02/02/2011 10:18:40 PM PST · by bronxville · 148 replies
    US Politicians Duped By The Brotherhood In the United States, one individual maintained a pretense of "moderation" which would later embarrass the left and the right. According to the testimony of Dr. Michael Waller to the US Senate Committee on the Judiciary, Abdurahman Alamoudi was a member of the Muslim Brotherhood. A man born in Eritrea in 1951, he arrived in the US in 1979 and became a naturalized US citizen on May 23, 1996. From 1985 onwards he became involved in many Muslim groups. In 1990 he founded the Washington DC-based American Muslim Council (AMC), which Waller states "has...
  • Citigroup Posts First Annual Profit Since 2007

    01/18/2011 12:30:10 PM PST · by Cronos · 4 replies
    The New York Times ^ | 18-Jan-2011 | BEN PROTESS
    Citigroup announced quarterly profits of $1.3 billion on Tuesday, bringing its 2010 earnings to $10.6 billion, as the bank saw fewer losses on troubled loans. This is the first time Citigroup has posted a full-year profit since Vikram S. Pandit was named chief executive in 2007. Citigroup reported a loss of $1.6 billion in 2009, on top of a crippling $18 billion loss the year before. The bank has now turned a profit for four consecutive quarters.
  • Citibank fraud case: India police file FIR against CEO Vikram Pandit, CFO Gerspach

    01/05/2011 8:56:40 AM PST · by FromLori · 1 replies
    ibtimes ^ | 1/4/11 | IBTimes Staff Reporter
    Gurgaon police on Tuesday registered a first information report (FIR) against Indian-born global chief executive of Citigroup Vikram Pandit and ten others in the $80 million Citibank fraud case in the north Indian state of Haryana. The police also registered an FIR against Citibank chairman William R Rhodes along with other senior officials based in India based on a complaint filed by Sanjiv Agarwal, a high networth individual. Last week, Citibank uncovered a fraud at its Gurgaon branch involving diversion of its depositors money into the stock market.
  • Results of mortgage probe expected in 2011--'Robo-signing', other activities under investigation.

    12/28/2010 2:59:55 PM PST · by DeaconBenjamin · 14 replies · 1+ views
    MORNING CALL ^ | 11:50 p.m. EST, December 27, 2010 | By Tim Darragh
    A working group of attorneys general and banking officials from all 50 states has gathered evidence in its probe of potentially improper or illegal lending and servicing practices. The group met with representatives of five top mortgage lenders and servicers GMAC/Ally, J.P. Morgan Chase, Citibank, Wells Fargo and Bank of America. "We are having ongoing discussions with these institutions. We have also met with groups of investors and a number of consumers We are well under way with that process." The investigation came together quickly in the fall, after complaints arose about lenders and servicers using "robo-signing" practices...
  • No mosque money

    12/06/2010 3:22:47 AM PST · by Scanian · 2 replies
    NY Post ^ | December 06, 2010 | Editorial
    Citibank is suing the developer of the proposed Ground Zero mosque to recover some $100,000 in overdue credit charges. Not to worry, though, says Sharif El-Gamal -- getting yourself sued, he alleges, is a way to get "financial institutions" to "restructure debt." Sounds a little loosey-goosey to us -- and certainly not a practice that's appropriate when tax dollars are involved. Which, as chance would have it, is cause for concern: It seems that El-Gamal and mosque co-developer Imam Feisal Rauf have applied for some $5 million in grants from a fund set up with federal post-9/11 money meant for...
  • Citibank Continues to Deny Credit to Firearms Industry

    October 8, 2010 By Larry Keane Once again Citibank has drawn the ire of the firearms community over its credit policies. This time it deals with not extending lines of credit to businesses even remotely related to the firearms industry. As many people remember back in January 2008, NSSF took Citi Merchant Services to task over its decision to stop processing credit card transactions involving the lawful sale of firearms by law-abiding, federally licensed, firearm distributors/retailers. Unfortunately, it became evident that the decision was not a mistake of a single employee, but was rather a corporate-wide policy. Fast forward to...
  • Bailed Out Firms Spend Millions on Political Causes, Federal Lobbying

    08/06/2010 7:14:45 PM PDT · by AuntB · 14 replies
    FOX NEWS ^ | Aug. 6, 2010 | Stephen Clark
    Several companies that escaped financial failure two years ago through massive taxpayer-funded bailouts are spending millions of dollars to make donations to political causes and even some candidates' campaigns. General Motors, Chrysler and Citigroup are just three of the biggest bailout recipients who have continued to remain politically active, through their political action committees, federal lobbying or direct donations to the pet projects of lawmakers. The potential public relations disaster for firms spending big dollars on political causes and federal lobbying after being extended a taxpayer lifeline has led some, such as AIG, Fannie Mae and Freddie Mac, to suspend...
  • Woman Says Citibank Fired Her Because She Was Too Hot

    06/02/2010 5:09:25 AM PDT · by Pearls Before Swine · 149 replies · 5,100+ views
    Business Insider ^ | June 2, 2010 | Courtney Comstock
    Extract: Debrahlee Lorenzana is filing a lawsuit against Citibank because they fired her, she says, for the strangest reason: she's too hot. ....Her bosses told her that "as a result of the shape of her figure, such clothes were purportedly 'too distracting' for her male colleagues and supervisors to bear," she says
  • Arrested Democratic Fundraisers Pro-Taliban, Pro-Iran Agenda

    08/27/2009 1:07:23 PM PDT · by HorowitzianConservative · 5 replies · 418+ views
    NewsReal Blog ^ | August 27, 2009 | Claude Cartaginese
    Amy Goodman of the Marxist Democracy Now! network reported yesterday on the arrest of a leading Democratic donor named Hassan Nemazee. Here is the story, in its entirety: Back in the United States, a leading Democratic donor has been arrested and charged with seeking to defraud the financial giant Citibank. Hassan Nemazee is accused of submitting forged documents to secure a $74 million loan. Nemazee has given at least $150,000 to the Democratic Senatorial Campaign Committee since 2006 and supported several other leading Democratic politicians. Not much to sink your teeth into there. Could it be that Goodman is downplaying...
  • Obama, Clinton Money Man Guilty Of Major Fraud Scheme

    03/22/2010 4:26:27 PM PDT · by Conservative Coulter Fan · 39 replies · 1,028+ views
    Judicial Watch ^ | 03/19/2010
    The shady Iranian fundraiser who for years donated lucrative sums to top Democratsincluding the president, vice president and secretary of statehas pleaded guilty to a major bank-fraud scheme that could land him in jail for nearly two decades.Disgraced Democratic money man Hassan Nemazee admitted this week that he defrauded three financial institutions out of nearly $300 million in loan proceeds by falsifying documents and signatures to show he had hundreds of millions of dollars worth of collateral. The Ivy League-educated crook then used the proceeds to donate big bucks to the campaigns of federal, state and local candidates. Among them...
  • Hassan Nemazee Pleads Guilty in Manhattan Federal Court to $292 Million Bank Fraud

    03/19/2010 5:09:25 PM PDT · by Cindy · 25 replies · 662+ views
    Note: The following text is a quote: Hassan Nemazee Pleads Guilty in Manhattan Federal Court to $292 Million Bank Fraud PREET BHARARA, the United States Attorney for the Southern District of New York, announced that HASSAN NEMAZEE pleaded guilty today to charges of defrauding Bank of America, N.A. ("BofA"), Citibank, N.A. ("Citibank"), HSBC Bank USA, N.A. ("HSBC"), and a longtime friend and business associate of a total of more than $290 million in loan proceeds. NEMAZEE entered his guilty plea before United States District Judge SIDNEY H. STEIN in Manhattan federal court. According to the superseding Information, filed today, to...
  • Citibank exposes 600,000 customers' Social Security numbers

    03/09/2010 10:04:11 AM PST · by ButThreeLeftsDo · 17 replies · 151+ views
    ChicagoTribune.com ^ | 3/9/10 | Staff
    Ralph Remakel received a Citibank letter postmarked Feb. 16 that notified him of a recent Citibank error. It turns out he wasn't the only one. In late January, Citibank mailed year-end tax statements to 600,000 Citi customers via the U.S. Postal Service that included the customers' Social Security numbers ... on the outside of the envelope. Citi called the mistake a "processing error." Although the nine-digit numbers were not identified as Social Security numbers (they were printed at the lower edge of the envelope with other numbers and letters and resembled a mail routing number), Citi still reacted to the...
  • Citibank: No More DDA Accounts

    02/21/2010 10:08:30 AM PST · by blam · 19 replies · 1,352+ views
    The Market Ticker ^ | 2-20-2010 | Karl Denninger
    Citibank: No More DDA AccountsKarl DenningerThe Market Ticker Feburary 20,2010 I'm going to delve a bit into the Ticker from yesterday in which I advised people to get the hell away from Citibank (NYSE: C) based on a report that an "accidental" mailing of terms changes to all 50 states allegedly only applied in Texas. Some rooting around on The Internet (along with a little help) disclosed this little gem: Texas-only my ass. Note that the date on that file is 12/28/2009 (by the name) with an effective date of January 1st, 2010, and there is nothing that indicates it...
  • Obama's "Homeowner Affordability and Stability Plan" Putting Homeowners In Default or Foreclosure

    01/05/2010 7:28:53 PM PST · by Daniel T. Zanoza · 9 replies · 814+ views
    Illinois Family Institute ^ | January 4, 2010 | Daniel T. Zanoza
    ... "I had never missed a payment and I had never been late on a mortgage payment. For the next three months, I sent in my monthly mortgage payment, which reflected the verbal agreement I made with Citibank. After a three month period, I began receiving documents which gave the appearance I was in the process of negotiating for the reduction in my mortgage payments--when I was led to believe back in June, I was meeting my responsibilities regarding the re-financing of my mortgage I had agreed to with Citibank. After a two month period of a back and forth...
  • U.S. Freezes $2 Billion in Iran Case

    12/11/2009 5:59:20 PM PST · by nuconvert · 6 replies · 671+ views
    WASHINGTON -- More than $2 billion allegedly held on behalf of Iran in Citigroup Inc. accounts were secretly ordered frozen last year by a federal court in Manhattan, in what appears to be the biggest seizure of Iranian assets abroad since the 1979 Islamic revolution. The legal order, executed 18 months ago by the U.S. District Court for the Southern District of New York, is under seal and hasn't been made public. The court acted in part because of information provided by the U.S. Treasury Department. President Barack Obama has pledged to enact new economic sanctions on Iran at year-end...
  • So this is what Citibank is doing with the bailout $$$

    11/18/2009 2:30:03 PM PST · by GRRRRR · 23 replies · 1,246+ views
    Blogs.courant.com / Self ^ | 11/18/09 | GRRRRR
    So, I'm sure many of us have been getting these letters, see the URL for an example, in the mail from our credit card companies. Since my wife passed away, I've been able to pay off all of them and now have just one card with CitiBank that I use and now pay off each month. I like it because I get airline miles on it and I've had the account for over 20 years. Citibank took $300BILLION of tax payer bail out money and have tried to jack up my rates twice since July. The first time, I called...
  • McCain a booster as Romney works to win over skeptics [Romney convinced McCain to back TARP]

    09/30/2009 10:09:58 PM PDT · by rabscuttle385 · 80 replies · 3,691+ views
    The Boston Globe ^ | 2009-10-01 | Sasha Issenberg
    WASHINGTON - Mitt Romney had already sent out invitations for his Phoenix fund-raiser, offering supporters the chance to meet him in a Chase Field luxury box over a $300-per-person lunch or a $3,000 VIP reception. But when former rival John McCain called with an offer to be listed as host for the event in his hometown, Romney happily went back to the printer for a new invitation with McCains name emblazoned on it. Yesterday, McCains gesture helped Romneys political action committee raise about $80,000. It also consummated an 18-month rapprochement between two competitors who battled for the 2008 GOP presidential...
  • Taxpayer-Owned Citigroup Still Bankrolling ACORN

    09/28/2009 9:10:14 AM PDT · by jazusamo · 19 replies · 813+ views
    NLPC ^ | September 27, 2009 | Peter Flaherty
    Taxpayer-Owned Citigroup Still Bankrolling ACORN Submitted by Peter Flaherty on Sun, 09/27/2009 - 18:59 Now that taxpayers are Citigroups biggest shareholder, owning 36% of common stock, it is time for the company and its foundation to end its relationship with ACORN and its affiliates.Citigroup has received $45 billion in taxpayer TARP funds. In addition, taxpayers are on the hook for the lions share of losses on the companys $335 billion loan portfolio.According to the 2008 annual tax return of the Citi Foundation, it provided the ACORN Institute, Inc. with grants of $500,000 for each of the years 2006, 2007...
  • Democratic (and Obama) Fund-Raiser Nemazee Indicted In $292 Million Fraud

    09/21/2009 3:33:07 PM PDT · by pissant · 86 replies · 4,048+ views
    NasDaq ^ | 9/21/09 | Chad Bray
    NEW YORK -(Dow Jones)- New York businessman and prominent Democratic fund- raiser Hassan Nemazee was indicted Monday for allegedly defrauding three banks out of $292 million in loans. Nemazee, 59 years old, was charged with aggravated identity theft and three counts of bank fraud in the indictment. Each bank fraud count carries a term of up to 30 years in prison. A lawyer for Nemazee didn't immediately respond to a request for comment. Nemazee, who was involved in various presidential campaigns and once served as finance chairman of the Democratic Senatorial Campaign Committee, was initially charged criminally in August related...
  • U.S. charges Obama fund-raiser in $290 million fraud

    09/21/2009 4:25:18 PM PDT · by South40 · 23 replies · 1,486+ views
    Reuters ^ | Grant McCool
    NEW YORK (Reuters) - Hassan Nemazee, a fund-raiser for Barack Obama, Hillary Clinton and other Democrats, has been indicted for defrauding Bank of America, HSBC and Citigroup Inc out of more than $290 million in loan proceeds, U.S. prosecutors said on Monday. The announcement follows last month's indictment of Nemazee, head of a private equity firm and an Iranian American Political Action Committee board member, on one count of defrauding Citigroup's Citibank. The new indictment adds allegations that he defrauded two other banks, Bank of America and HSBC Bank USA, in a similar fashion by falsifying documents and signatures to...
  • The CRA and Key Players

    09/27/2008 10:08:08 AM PDT · by hiredhand · 54 replies · 3,831+ views
    Various ^ | 27 Sep 2008 | Self
    The Subprime home mortgage collapse...a Primer. It's ALL about the CRA of 1977 Community Reinvestment Act (CRA) of 1977 - This required banks to offer credit throughout their entire market area for underserved populations and small businesses. The CRA gave incentives to help low income borrowers become home owners. Liberals call this group low income borrowers. Conservatives call them a RISK!The CRA was passed by the Carter administration. In 1995 the Clinton administration authorized subprime loans under the CRA. Democrats added these provisions for the securitization of subprime loans and then ENFORCED the lending to high risk individuals. By 2000,...
  • ACORNs illegal alien home loan racket

    09/18/2009 7:49:25 AM PDT · by the anti-liberal · 2 replies · 394+ views
    michellemalkin.com ^ | Michelle Malkin
    ACORNs illegal alien home loan racket By Michelle MalkinSeptember 18, 2009 08:33 AM My column today blasts ACORN Housing Corporations criminal-enabling home loan program for illegal aliens. To paraphrase Jon Stewart: Where the hell is everyone?AHC is one of the endless non-profit arms of ACORN. Their response to the BigGovernment.com sting videos hasnt received as much attention as the national ACORN flagships. You can read AHCs CYA reaction here. ***ACORNs illegal alien home loan racket by Michelle MalkinCreators Syndicate Copyright 2009Theres one thing more shocking than the illegal alien smuggling advice that an ACORN official in San Diego gave...