• 04 Dec 2008 at 9:16 AM

Count On The Post

By Dealbreaker

When it comes to creative narrative, you have to look pretty hard to beat the plaintiff’s bar. Take, for instance, the federal lawsuit jabbing Citi management with the accusation that their repackaging and remarketing of CDOs amounted to a Ponzi scheme, propping up CIti shares until insiders could exit. Chuck Prince and Robert Rubin are at the center of the mess, and, whatever you think of the claims, the timing could probably be better for Robert Rubin.
Still, who are we to turn our nose up at a well written complaint or the New York Post article that brings it to us in Technicolor?

‘PONZI SCHEME’ AT CITI [The New York Post]

Comments (6)

  1. 1
    Posted by guest | December 4, 2008 at 9:25 AM

    Bess, no UPenn rip (ala the cover story)?

  2. 2
    Posted by VOL IS KING | December 4, 2008 at 9:32 AM

    clearly this is no Ponzi Scheme. in a ponzi the original investors are paid back with the money of the new investors. In the citi scheme everyone just loses all their money.

  3. 3
    Posted by guest | December 4, 2008 at 9:34 AM

    @1 Posted by Equity Private, Dec 04, 2008, 9:16am

  4. 4
    Posted by guest | December 4, 2008 at 11:40 AM

    @1 Colossal Fail

  5. 5
    Posted by guest | December 4, 2008 at 12:08 PM

    HuH?

  6. 6
    Posted by Slephessy | March 29, 2010 at 8:02 PM

    Hi
    I am a newbie here.
    Glad to find this forum…as what I am looking for

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