Mets Stadium Daddy Citibank target of new lawsuit

Part of the Citibank-Mets link may be that the Mets have already received some payment from the bank. Cancellation of the deal would mean they would have to give the money back. A new lawsuit alleges involvement of longtime government insider Robert Rubin:

• "A new Citigroup scandal is engulfing Robert Rubin and his former disciple Chuck Prince for their roles in an alleged Ponzi-style scheme that's
• now choking world banking.

Director Rubin and ousted CEO Prince - and their lieutenants over the past five years - are named in a federal lawsuit for an alleged complex cover-up of toxic securities that spread across the globe,

• wiping out trillions of dollars in their destructive paths.

Investor-plaintiffs in the suit accuse Citi management of overseeing the repackaging of unmarketable collateralized debt obligations (CDOs) that no one wanted - and then reselling them to Citi and hiding the poisonous exposure off the books in shell entities.

• The lawsuit said that when the bottom fell out of the shaky assets in the past year, Citi's stock collapsed, wiping out more than
• $122 billion of shareholder value.

However, Rubin and other top insiders were able to keep Citi shares afloat until they could cash out more than $150 million for themselves in "suspicious" stock sales "calculated to maximize the personal benefits from undisclosed inside information," the lawsuit said."...

• Where are arrest warrants for this army of white collar criminals? Where are any somnambulent American citizens who care? (sm) via Free Republic

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