Free Republic 1st Quarter Fundraising Target: $88,000 Receipts & Pledges to-date: $16,105
Woo hoo!! And the first 18% is in!! Thank you all very much!!

Keyword: citigroup

Brevity: Headers | « Text »
  • U.S. Charges Accomplice Of Democratic Fund - Raiser (Worth saying again "Democratic Fund - Raiser")

    09/25/2009 2:12:29 PM PDT · by tobyhill · 13 replies · 1,041+ views
    ny times ^ | 9/25/2009 | reuters
    Many of the fake documents used by a leading Democratic Party fund-raiser to defraud HSBC and Citigroup Inc were made by his brother-in-law, U.S. prosecutors said on Friday. Authorities arrested and charged Shahin Kashanchi, brother-in-law of indicted fund-raiser Hassan Nemazee, who donated to the presidential campaigns of Barack Obama, Hillary Clinton and other leading Democrats over the years. Nemazee pleaded not guilty on Wednesday in Manhattan federal court to defrauding a total of three banks -- Bank of America was the other -- out of $292 million in loan proceeds. "Based on e-mail traffic between Kashanchi and Nemazee, Kashanchi was...
  • ACORN's corporate donors backing off

    09/25/2009 3:50:40 AM PDT · by gusopol3 · 29 replies · 1,567+ views
    Washington Examiner ^ | September 25, 2009 | Kevin Mooney
    Corporations that have given ACORN millions of dollars over the years are now cancelling their donations in the wake of videotape revelations of employees of the infamous community organizing giving advice on mortgage fraud, tax evasion, prostitution, and child sex slavery. Bank of America is reviewing its grant program, while Citigroup is waiting for the results of on-going investigations. JP Morgan Chase had previously ended its relationship with ACORN. Bank of America donated 28 grants totaling almost $3 million to ACORN Housing Corporation (AHC), since 2005, financial records show. A company spokesman said the activity exposed on videotape prompted the...
  • What did Hank know and when did he know it?

    09/22/2009 6:21:11 PM PDT · by BGHater · 10 replies · 1,460+ views
    NY Post ^ | 22 Sep 2009 | John Crudele
    HANK Paulson has admitted that he kept in touch with "market participants" on Wall Street when he was Treasury secretary. But did the former head of Goldman Sachs use his government position to enrich his friends during one of the most tumultuous times in US financial history? Paulson's phone logs, which I obtained after a Freedom of Information Act request, show that the Treasury chief kept in frequent touch with a virtual Who's Who of Wall Street's power players. But a half-hour block of time could prove to be the most intriguing bit of non-information in his schedule. Let me...
  • HSBC sues accused Democratic fund-raiser in New York

    09/19/2009 9:26:42 PM PDT · by grey_whiskers · 21 replies · 767+ views
    Al-Reuters ^ | 09-18-2009 | Reporting by Grant McCool; Editing by Ted Kerr
    NEW YORK (Reuters) - A fund-raiser for Barack Obama, Hillary Clinton and other Democrats who was charged last month with defrauding Citigroup Inc is being sued by HSBC for deceiving it into lending him $100 million. The lawsuit filed in New York State Supreme Court in early September accused private equity firm head Hassan Nemazee, 59, of engaging in an elaborate scheme to make HSBC Bank USA believe that its loan was secured by collateral in the form of U.S. Treasury Notes when it was not.
  • ACORN says workers conduct 'indefensible' (Suspends, plans audit, in wake of videos)

    09/16/2009 12:54:21 PM PDT · by Clinging Bitterly · 77 replies · 2,892+ views
    The Washington Times ^ | 9-16-2009 | Jeffrey H. Birnbaum
    UPDATED: ACORN, calling the actions of some of its employees "indefensible," has suspended advising new clients as part of its service programs and is setting up an independent review to see what happened.
  • US Treasury Department, Citigroup; You lie!

    09/15/2009 7:01:50 AM PDT · by h20skier66 · 194+ views
    Commodity News Center ^ | 9/14/09 | James Bibbings
    As of a few moments ago Bloomberg broke a story suggesting that the US government would be selling off its stake in Citigroup stock. As much as I'm for the US Government and Taxpayer getting away from any of our illegitimate TARP children, Bloomberg's story is just off. here is no such thing as a profit on the sale of this stock when, as a nation, we are into Citi Bank for much more than what was placed into Citi Stock. Specifically, from Bloomberg's article and confirmed via Pro Publica there will be at least $25 billion in warrants left...
  • U.S. Said to Explore Selling Off Its Citigroup Stock

    09/14/2009 6:54:00 PM PDT · by Nachum · 7 replies · 593+ views
    Bloomberg ^ | 9/14/09 | Robert Schmidt and Bradley Keoun
    No posts from Bloomberg allowed. Link below
  • No Pity For CITI- US Watchdog Blasts Bank's Lack of Bailout Exit

    09/04/2009 7:19:35 PM PDT · by BGHater · 4 replies · 509+ views
    New York Post ^ | 04 Sep 2009 | MARK DeCAMBRE
    The head of the committee overseeing how Uncle Sam is spending its bailout dollars offered withering criticism of the feds' handling of Citigroup's rescue, blasting regulators for their lack of transparency -- and the absence of any clear exit strategy. Noting that other companies that have received federal aid have served up proposals to pay back the money, Elizabeth Warren, chairman of the Congressional Oversight Panel, had harsh words about the lack of such a plan in the case of Citi, which has received $45 billion in rescue cash and is more than one-third owned by US taxpayers. "Too big...
  • A Piggy Banker with Lipstick

    03/18/2009 10:24:55 AM PDT · by The Conservative Yogini · 1 replies · 266+ views
    The Gadfly ^ | The Gadfly
    Alexander Lewis, who has been at Citigroup since 1999 and before that worked at the Federal Reserve, will head to the Treasury "to work on domestic financial issues," said the Citigroup memo, which was sent Tuesday. -WSJ I suppose it is a step up for his career, but I am not so certain it is a step up for America. Citigroup’s chief economist Lewis Alexander just got a new dream job at the Treasury Department. And wow, he also once worked for the Federal Reserve – impressive! He is a professional con-man. Again, the administration is blatantly recycling old crooks...
  • [Democrat] Hassan Nemazee arrested and charged with bank fraud

    08/25/2009 11:34:06 AM PDT · by COUNTrecount · 6 replies · 756+ views
    BNO News ^ | August 25,2009
    NEW YORK CITY (BNO NEWS) -- Hassan Nemazee, CEO of Nemazee Capital and former Finance Chairman to Hillary Clinton's presidential campaign, was arrested and charged with bank fraud on Tuesday, prosecutors said. According to officials, Nemazee engaged in a fraudulent scheme to induce Citibank to lend him up to $74 million based on false representations that he owned millions of dollars in collateral. Nemazee submitted numerous documents that purported to establish the existence of accounts in his name at various financial institutions containing many hundreds of millions of dollars. In fact, those were fraudulent and forged documents, according to the...
  • Democratic fundraiser charged in Citigroup fraud [Nemazee]

    08/25/2009 11:18:30 AM PDT · by lainie · 27 replies · 2,611+ views
    Reuters ^ | 8-25-2009 | Jonathan Stempel
    NEW YORK, Aug 25 (Reuters) - The U.S. attorney in New York on Tuesday charged a New York investor and major Democratic fund-raiser with a $74 million scheme to defraud Citigroup Inc (C.N). Hassan Nemazee, 59, was charged with one count of bank fraud, and faces up to 30 years in prison plus a fine. His lawyer Marc Mukasey, a former federal prosecutor, did not immediately return a call seeking comment. Nemazee was a national finance chair of U.S. Secretary of State Hillary Clinton's 2008 presidential campaign, and a supporter of John Kerry's run for the White House in 2004....
  • Name That Party: Alleged Fraudster Was Finance Chair for Hillary Clinton, John Kerry

    08/25/2009 11:36:48 AM PDT · by Sub-Driver · 8 replies · 669+ views
    Name That Party: Alleged Fraudster Was Finance Chair for Hillary Clinton, John Kerry By Ken Shepherd Created 2009-08-25 13:53 Gabriel Malor at Ace of Spades HQ has a great "name that party" catch today [1]. Malor noted that at least three major news outlets all failed to note the high-powered Democratic Party ties of one Hassan Nemazee, a businessman arrested this morning on a charge of bank fraud against Citigroup: Do you know what's not in the CNN article [2]?* Or this Reuters one [3]? Or this AP one [4]? A crucial detail from Nemazee's bio: [5] National Finance Chair...
  • Colonial Bank Failure Highlights the Problem

    08/23/2009 10:32:33 PM PDT · by crosstimbers · 4 replies · 723+ views
    Seeking Alpha ^ | August 23, 2009 | Jeff Nielson
    The bankruptcy of Colonial Bank (CNB) was the largest bank-bankruptcy in the U.S. since several large, U.S. financial institutions collapsed last year – with the most recent being Washington Mutual, last fall. However, there is one huge difference between the mega-bankruptcies of last year and the collapse of Colonial Bank a week ago. During the large bank-failures of 2008, the acquiring institutions wrote-down the “assets” on the books of these banks by an average of 18% - according to a Bloomberg article. However, when BB&T Corp purchased Colonial, it immediately wrote-down Colonial's assets by 37%, double the amount of discounting...
  • $100 Million Payday Poses Problem for Pay Czar

    08/03/2009 7:09:11 AM PDT · by Red in Blue PA · 37 replies · 1,301+ views
    Yahoo ^ | 8/3/2009 | Staff
    In a few weeks, the Treasury Department's czar of executive pay will have to answer this $100 million question: Should Andrew J. Hall get his bonus? Mr. Hall, the 58-year-old head of Phibro, a small commodities trading firm in Westport, Conn., is due for a nine-figure payday, his cut of profits from a characteristically aggressive year of bets in the oil market. There is little doubt that Mr. Hall is owed the money under his contract. The problem is that his contract is with Citigroup, which was saved with roughly $45 billion in taxpayer aid.
  • Citi exec's pay package may spark gov't showdown

    07/25/2009 1:44:33 PM PDT · by Need4Truth · 10 replies · 552+ views
    AP / Yahoo ^ | July 25, 2009 | unknown
    The hefty 2009 pay package of Andrew J. Hall, leader of Citigroup Inc.'s lucrative Phibro energy trading unit, may spark a showdown between the New York-based bank and government pay czar Kenneth Feinberg.
  • Citigroup, recently bailed out by the US taxpayer, is giving $1.75 million to La Raza.

    07/24/2009 8:24:04 AM PDT · by chicagolady · 46 replies · 2,643+ views
    Arizona Daily Star ^ | 07.24.2009 | Arthur H. Rotstein
    In a pilot program, the charitable arm of Citigroup is giving the National Council of La Raza money to help buy foreclosed homes in Phoenix for rehabilitation and ultimate purchase by low-and moderate-income Latino families. In all, New York-based Citi Foundation is providing $1.75 million to the NCLR, of which $235,000 will go to its Raza Development Fund. That'll allow the fund to acquire, maintain and rehab properties to sell or lease. Raza Development Fund chief Tom Espinoza says the fund will add about $4 million and federal stimulus program money will boost the total to about $12 million to...
  • Can Citigroup Ever Turn It Around?

    07/23/2009 5:48:21 AM PDT · by SeekAndFind · 7 replies · 465+ views
    TIME ^ | 7/23/2009 | Stephen Gandel
    While much of Wall Street and the rest of the financial sector are finally seeing some sun, the storm clouds around Citigroup just don't seem to break. Last Friday, the company said it earned $3.4 billion in its second quarter. It was the second quarter in a row that Citi had announced a profit, after many critics said the company was done for. In a press release, Citigroup CEO Vikram Pandit triumphantly said, "Our financial results today reflect the incredibly dedicated efforts of all of our people around the world and their success in implementing our plan." But in the...
  • Summers received money from Wall Street: report

    04/04/2009 10:23:02 AM PDT · by NormsRevenge · 9 replies · 880+ views
    AFP on Yahoo ^ | 4/4/09 | AFP
    WASHINGTON (AFP) – The top White House economic adviser Lawrence Summers received more than five million dollars last year from the hedge fund D.E. Shaw and collected 2.7 million in speaking fees from Wall Street firms benefiting from government bailout money, The New York Times reported Saturday. Citing new financial information about top officials in the administration of Barack Obama, the newspaper said Summers had made 40 paid appearances, including a speech to the investment firm Goldman Sachs, for which he was paid 135,000 dollars. Summers, a former president of Harvard University and treasury secretary in the Clinton administration, leads...
  • Obama adviser Summers earned millions from hedge fund

    04/04/2009 12:25:27 PM PDT · by freespirited · 9 replies · 705+ views
    Reuters UK ^ | 04/04/09 | Roberta Rampton
    Lawrence Summers, a top economic adviser to U.S. President Barack Obama, was paid about $5.2 million by hedge fund D.E. Shaw in the past year, disclosure forms released by the White House showed on Friday. Summers was also paid $2.7 million in speaking fees by a range of organizations and companies, including several troubled Wall Street financial firms. The disclosure documents on Summers and other White House officials advising Obama on the global financial crisis covered 2008 and the first few months of this year. Summers became an official adviser on January 20 when Obama took office. Summers, who was...
  • Administration Plans for End of "Too Big to Fail"

    07/05/2009 2:46:32 PM PDT · by John W · 5 replies · 605+ views
    MSNBC ^ | July 5, 2009 | AP via MSNBC
    -Megabanks may be slimmed down, told to prepare plans for own demise They are the biggest of the big — the Citigroups, the Goldman Sachses, the AIGs and other financial behemoths. The Obama administration doesn't want so many around anymore. Financial regulations proposed by the president would result in leaner and simpler institutions that don't carry the weight of the system on their marble columns. Around Washington and Wall Street they have come to be known as TBTF — too big to fail. It's not just size, though. These companies are so far-flung, so intertwined and so precariously leveraged that...