DOJ reportedly set to file civil fraud charges against Citi, Merrill

Reuters reports the DOJ is getting set to file civil fraud charges against Citigroup (C) and Merrill Lynch (BAC) over MBS sales made during the financial crisis. In addition, probes of RBS and Credit Suisse (CS) are said to be "progressing."

The report comes a month after JPMorgan reached a $13B settlement with the DOJ and other agencies

Previous: DOJ plans more MBS fraud cases in 2014

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Comments (11)
  • a64hoo
    , contributor
    Comments (1533) | Send Message
    What will the DOJ do when they run out of banks and mortgage companies to shake down ?
    17 Dec 2013, 07:21 PM Reply Like
  • philipmax
    , contributor
    Comments (421) | Send Message
    Several years ago, even before the collapse, Citi signed off on some pretty nasty hanky-panky stuff, promising never to engage in the sh#t again. The supposition was that they will refrain from doing same twice. or face dire straights.
    So, now that they will probably admit to doing the same old skulduggery nonsense, will their punishment be enough to cure them, or will we back here in five?
    17 Dec 2013, 07:32 PM Reply Like
  • Jason B
    , contributor
    Comments (597) | Send Message
    The only "hanky-panky" was doing as they were told by the USG. They were screwed out of Wachovia by Sheila "Incompetent" Baer, which sunk the stock. As for "doing the same thing twice", all they have done is the right thing (before the other banks followed suit)...this current nonsense is nothing but a Holder shake down bc this administration has not other way to operate than tax/spend/lawsuit.
    18 Dec 2013, 08:11 PM Reply Like
  • Jason B
    , contributor
    Comments (597) | Send Message
    You have no idea what you are talking about. This is a shake down by the USG mafia. If you really are coming down on their side you are a lobotomy victim
    18 Dec 2013, 08:12 PM Reply Like
    , contributor
    Comments (1149) | Send Message
    Far as I'm concerned they (the DOJ) is only robbing the shareholders now. They need to put the executives (ones in charge of place at time) in JAIL otherwise the DOJ is just screwing us Shareholders period.


    Better yet take the FINES out of all the Golden Parachutes these thief's got when they walked away after the fact. Put them in jail and confiscate all their overseas hidden funds keep them locked up for rest of their lives...


    With (BAC) why they don't just put WM and ML into BK CH11/CH13 dump this crap that the FDIC MADE them buy as one and only place besides JPM that could even buy the stuff (JUNK.)
    17 Dec 2013, 07:43 PM Reply Like
  • ECapo
    , contributor
    Comments (735) | Send Message
    They got all of them together..told them our country would go under if they did not buy Country Wide etc. now to show ...thanks...they sue all of them ?...
    17 Dec 2013, 07:58 PM Reply Like
  • Bear Bait
    , contributor
    Comments (930) | Send Message
    I'm with WPSPIKER and ECapo.
    17 Dec 2013, 08:15 PM Reply Like
  • mphill47
    , contributor
    Comments (603) | Send Message
    This is the only way the Obama administration can stay solvent.......billions from banks
    17 Dec 2013, 09:04 PM Reply Like
  • William Ford
    , contributor
    Comments (90) | Send Message
    Obama and his administration are doing everything to destroy the economy while the Fed, love them or hate them have done Obama's job. Obama's first effort, first year of his first administration i.e."healthcare" is a mess.
    17 Dec 2013, 10:40 PM Reply Like
  • TBV
    , contributor
    Comments (181) | Send Message
    enough is enough...
    move on already...
    5-6yrs passed...
    US govt squeezed banks enough...
    if you want some action put those regulators who slept at the work during the crisis behind bars and arrest guys like Angelo Mozilo, John Thain and etc..go after the individuals who actually involved, not the shareholders who invest in US economy.
    18 Dec 2013, 08:08 AM Reply Like
  • swampfox1
    , contributor
    Comments (118) | Send Message
    I don't understand why the bank leaders, JPM, BAC, etc. don't step up and truthfully tell the world about what transpired in their generous attempts to salvage the mess created by an inept government, that is now prosecuting them. Folks, here is how the cow eats the cabbage!~~~Bring it!
    18 Dec 2013, 12:55 PM Reply Like
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