May
12
Citigroup One Guilty Plea From Being Allowed To Spend Several Billion Dollars To Make Rategate Go Away
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Back in November, Citigroup and all of the other bad kids in the back of the foreign-exchange rate-setting classroom (in other words, all of them) promised to mend their ways (and pay a collective $3.3 billion). A month later, Mike Corbat said that the$2.7 billion legal charge the bank took in the fourth quarter should more or less cover the whole ugly mess and allow him to “largely put those [issues] behind” him. Which may or may not be true, financially-speaking, once the small matter of Citipleading guilty to criminal charges is taken care of…
