Citigroup’s $7B Fine Sends Wrong Message: Whalen

Citigroup’s $7B Fine Sends Wrong Message: Whalen Play

July 14 (Bloomberg) -- Chris Whalen, head of research at Kroll Bond Rating Agency, and David Skorton, president at Cornell University, discuss the $7 billion fine paid by Citigroup to settle a U.S. government claim that it misled investors about the quality of mortgage-backed bonds, the message the fine sends to Main Street and what this may mean for Citigroup going forward. They speak on “Bloomberg Surveillance.”

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