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| Advertising - Citigroup and Merrill to buy back auction-rate debt (Reuters) |  | | <p><a href=http://us.rd.yahoo.com/dailynews/rss/business/*http://news.yahoo.com/s/nm/20080807/bs_nm/citigroup_dc><img src=http://d.yimg.com/us.yimg.com/p/nm/20080808/2008_08_07t130222_450x358_us_citigroup_auctionrate.jpg?x=130&y=103&q=85&sig=3aLYGGS.NznFXkvN8Ow9Jg-- align=left height=103 width=130 alt=New York Attorney General Andrew Cuomo speaks during a news conference in New York August 7, 2008. Cuomo and the U.S. Securities and Exchange Commission announced that Citigroup agreed to buy back more than $7 billion of illiquid auction-rate securities and pay a $100 million civil fine to settle charges it marketed the debt fraudulently. (Shannon Stapleton/Reuters) border=0 /></a>Reuters - Citigroup and Merrill Lynch said they would buy back billions of dollars of illiquid auction-rate securities from retail clients, and Citigroup agreed to pay a $100 million fine to settle charges it fraudulently misled investors about the debts risk.</p><br clear=all/>...full article |
Posted on Thursday, August 07, 2008 (Archive on Thursday, August 14, 2008)
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