"Citi's CDO operations during late 2006 and 2007 functioned largely to sell CDOs to yet newer CDOs created by Citi to house them," charges a pending shareholder lawsuit against the bank that was filed in federal court in Manhattan in February 2009. "Citigroup concocted a scheme whereby it repackaged many of these investments into other freshly-baked vehicles to avoid incurring a loss."
Citigroup described the allegations as "irrational," saying the bank's executives would never knowingly take actions that would lead to "catastrophic losses."
ok, read those last two quotes/sentences again...
Citi did unethical behavior to avoid losses - they admit this - and that is their obligation to shareholders...so, how can a amoral entity be expected to be ethical? They don't give a shit and, therefore can't. Citizens united...up yours people, up yours...
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