The Feds are in the building folks. Citigroup's malfeasance is being called onto the accountability carpet today. This is a very consequential "settlement" for Main Street America as it sets a precedent for more to come. The days of no transparency within the hallowed halls of Wall Street are ending.
If you think the "Tech Bubble" settlements were bad for Wall Street, wait until the lawyers get their nails under this moldy rug.
This is the "R" (Re-Regulation) factor within our RIPTE model. Citigroup (C) has rallied to $20 in recent weeks. On a break down through the $17.79 line, I see $14/share being re-tested. Don't forget what happened to this company in 1991.
KM
If you think the "Tech Bubble" settlements were bad for Wall Street, wait until the lawyers get their nails under this moldy rug.
This is the "R" (Re-Regulation) factor within our RIPTE model. Citigroup (C) has rallied to $20 in recent weeks. On a break down through the $17.79 line, I see $14/share being re-tested. Don't forget what happened to this company in 1991.
KM