DoJ Near Big Settlement With Citigroup Inc: WSJ

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Mark Melin
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Citigroup

The US Justice Department and Citigroup Inc (NYSE:C) have closed the gap in the bid-ask spread on a financial settlement and may be close to a deal. Citigroup prepared to settle deceptive mortgage product sales allegations The Wall Street Journal is reporting that Citigroup Inc (NYSE:C) is prepared to settle allegations the bank packaged and sold deceptive mortgage products designed to be opaque. The actual agreed upon settlement price should be interesting to watch. “The two sides, which had been far apart just weeks ago, are now ironing out details of an agreement that would have the bank pay more…

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Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.