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Alex S. Gabor
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Alex S. Gabor is freelance investigative journalist, bank stock analyst, and financial consultant. He does not personally get paid from anyone for anything published here at Seeking Alpha.
My company:
Church of Infinitology
My blog:
You, Me and the SEC
My book:
Confessions of a Sex Crazed Money Man
  • Citigroup And The Securities And Exchange Commission 0 comments
    Mar 16, 2012 11:57 AM | about stocks: BAC, WFC, C, BANR
     

     

     

     

     

     

    With the Citi, SEC civil trial delayed the International Bank Activities Reform Commission Continues Investigating Corrupt Lawyers at United States Securities & Exchange Commission.

    The proposed $285 million settlement between Citigroup and the Securities and Exchange Commission is still possible after an appellate court raised concerns about a previous ruling rejecting the deal, according to a Housing Wire Morning Alert.

    The settlement revolves around a CDO Citi financiers created in 2007 and allegedly sold to investors despite internally calling it "dogsh!t" and "possibly the best short EVER!"

    Judge Jed Rakoff threw out the settlement, mostly because he thought the public deserved a more concrete resolution and Citi deserved a stiffer penalty.

    As a result a civil trial was scheduled for this July, according to the Wall Street Journal.

    But the appellate court raised concerns, saying Rakoff overstepped his boundaries because Rakoff chose to "dictate policy to executive administrative agencies."

    Financial Policies are dictated by lawyers who are hired by bankers to maintain their monopoly powers over the control, regulation and issuance of money, mostly the United States Dollar cult.

    Meanwhile a Raise for Wells Fargo Corporation CEO means a widening gap between the lowest and highest paid employees of corporate America.

    Wells Fargo disclosed Thursday that its CEO John Stumpf received a 5% raise in 2011 to $17.9 million. Stumpf is a German Hungarian name.

    Not all banks have publicly reported executive compensation, according to Forbes it looks like Stumpf will still fall short of JPMorgan Chase CEO Jaime Dimon, who earned $23 million in 2010.

    WFC has the smallest investment bank of the nation's largest firms but still grew earnings by 30% last year.

    www.housingwire.com/article/sec-implemen...

    Disclosure: I have no positions in any stocks mentioned, but may initiate a short position in BAC, C, WFC over the next 72 hours.

    Additional disclosure: Alex S. Gabor & Associates is the exclusive financial advisor to the Infinite Freedom Foundations of America which may initiate offshore short positions in mortage, real estate, home builder and bank holding company stocks as it rolls out its international zero interest mortgage secondary market programs.

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