This is what happens when a bunch of clueless monkeys try to handle money on Wall Street. Citigroup should be brought down for its role in the Financial Crisis.
A midlevel former banker at Citigroup, Brian Stoker, is in court this week in connection with his role in creating exotic mortgage securities. While the civil trial is being hyped as a great exposé of Wall Street’s role in the financial crisis, it may be something more banal, merely showing how clueless financiers can be.
- Deal Professor: Brian Stoker Trial May Show Wall Street’s Foolishness – Deal Professor (dealbook.nytimes.com)
- Citigroup’s Stoker Misled Investors, SEC Tells Jury – Bloomberg (bloomberg.com)
- Wall Street Short on Ethics, Report Finds – NYTimes.com (nadernazemi.com)
- Ex-Citi Employee Seeks to Bar ‘Leading’ SEC Questions at Trial (blogs.wsj.com)
- Court Upholds Big Award Against Goldman – NYTimes.com (nadernazemi.com)