Citigroup reports reports its first quarterly loss since 1998. reveals writedowns due to subprime losses of $18.1 billion.
CEO Vikram Pandit said "
dandare | Commented 
Citigroup swings to loss on $18.1 billion charge; cuts payout 41%
Posted by alanwellspun (#1) 1482 days ago (http://www.marketwatch.com)US Federal Reserve’s subprime regulations shield Wall Street banks
Posted by alanwellspun (#1) 1507 days ago (http://www.wsws.org)
Fed,Congress and agencies didn't regulate mortgage lending since they were "beholden" to the financial elite.
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