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The Financial Crisis and the Collapse of Ethical Behavior
Oct 2, 2008 . By a collapse of ethical behavior we mean exactly what we say – that . the subprime banks was to sell mortgage loans to people who couldn't . November of 2007 at $35/share, they must love Citi at $14/share now, right?
http://www.greycourt.com/whitepapers/WhitePaper044-FinancialCrisis.pdf

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Subprime Lending
Subprime mortgage lending industry originated at $173 billion in loans in 2001 ( 11 % of . related to Subprime loans: Stock Price. Jan-07. Jan-08. Decrease. Citi Group . Ethical behavior occurs in a framework of behavior shaped by various .
http://www.spc.edu/MediaFiles/GradBusiness/SubprimeShadyBusiness.pps

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Corporate Ethics International : Citigroup Report - Restructuring Citi ...
In the case of the failure of Citigroup, it would be taken over by the Federal . which is responsible for massive firm losses, mostly on subprime mortgages, . rest of the population from practices based on reckless, hyper-competitive behavior.
http://www.corpethics.org/article.php?id=3642

What's Happened to the Big Players in the ... - Business Ethics
Oct 27, 2011 . This behavior was reportedly typical for the subprime mortgage industry. . of business in 2007, and Citigroup bought its mortgage lending unit.
http://business-ethics.com/2011/10/27/8190-cheat-sheet-whats-happened-to-the-big-players-in-the-financial-crisis/

Citi Group Caused Losses of $700000000 in MISCONDUCT ...
Nov 8, 2011 . This leads one to ask what level of ethical behavior does Citigroup believe in? . holding the bag for investments tied to sub-prime mortgages.
http://bootheglobalperspectives.com/article.asp?id=471

Have Mortgage Giants been held Accountable in the ... - Ethics Sage
Feb 20, 2012 . Mortgage Fraud Exposed: Subprime Loans, Fraudulent Foreclosure Practices . Sharing my wisdom on accounting and business ethics, workplace and societal ethics. . JP Morgan Chase & Co., Wells Fargo & Co., Citigroup Inc. and Ally Financial Inc. . After all, the first signs of such behavior were in 2008.
http://www.ethicssage.com/2012/02/have-mortgage-giants-been-held-accountable-in-the-25-billion-foreclosure-settlement.html

1 The Current Subprime Financial Crisis: Ethics Issues and Potential ...
managers of financial institutions, such as Charles Prince of Citigroup and Stan . the subprime mortgage and subprime corporate debt incurred under their . Conflicts of interest in subprime deals have to do both with self-serving behaviors .
http://www.alba.edu.gr/uploads/speech.pdf

Bailouts and Bonuses on Wall Street l Business Ethics Case Study l ...
pay package bestowed upon an individual at Citigroup—a trader who became . arose when homeowners began defaulting on their subprime mortgages and all . and led to extremely risky behavior, which helped bring the financial markets .
http://www.darden.virginia.edu/corporate-ethics/pdf/BRI-1007_Bailout_Bonus_Wall_Street.pdf

Moral Hazard and the Financial Crisis
even the doziest mortgage broker can originate subprime mortgages for even . of September 30th, Citigroup's subprime portfolio was worth every penny of the . sible behavior on the part of so many senior executives has now become the .
http://www.cato.org/pubs/journal/cj29n1/cj29n1-12.pdf

Angelo R. Mozilo News - The New York Times
In an industry known for low-key behavior and conservative dress, Mr. Mozilo was an . The delay, said Senator Dodd, was due to waiting on a Senate ethics inquiry that . MORE ON ANGELO R. MOZILO AND: SUBPRIME MORTGAGE CRISIS, . COUNTRYWIDE FINANCIAL CORP, CITIGROUP INC, SENATE, HOUSE OF .
http://topics.nytimes.com/top/reference/timestopics/people/m/angelo_r_mozilo/index.html

Which Bank Is the Worst? | Story | POWERWALL
Oct 25, 2011 . The decision wouldn't be easy, given the bad behavior of the . There was Citi's takeover in 2000 of The Associates, a subprime-mortgage .
http://powerwall.msnbc.msn.com/politics/which-bank-is-the-worst-1705508.story

“I didn’t do it for the money,” said Hunt in an interview last week with her and her lawyer, sba loans for car wash equipment.

Whistleblowers ignored, punished by lenders, dozens of former ...
Nov 22, 2011 . Former mortgage company employees say fraud was widespread in . Management, she claimed, ordered her to stop contacting the company's ethics hotline. . phone messages from people who worked at Citigroup's subprime lending . out-of-control behavior included an ugly mix of sexual harassment .
http://www.iwatchnews.org/2011/11/22/7461/whistleblowers-ignored-punished-lenders-dozens-former-employees-say

Cheat Sheet: What's Happened to the Big Players in the Financial ...
Oct 26, 2011 . This behavior was reportedly typical for the subprime mortgage industry. . went out of business in 2007, and Citigroup bought its mortgage lending unit. . rampant greed, a decay in ethics, and outright fraud was prevalent in .
http://www.propublica.org/article/cheat-sheet-whats-happened-to-the-big-players-in-the-financial-crisis

What Went Wrong Ethically in the Economic Collapse | Ethisphere ...
Dec 31, 2008 . In comparison with those who owned stock in Citigroup, which erased . which were essentially bundles of subprime mortgages sold to investors . a way that makes employees believe in ethical behavior and inspires them .
http://ethisphere.com/what-went-wrong-ethically-in-the-economic-collapse/

'Occupy Wall St.' revisited - Toronto SUN
Mar 17, 2012 . While he wrote he didn't know of any illegal behaviour by company executives, . decline in ethical standards, issued a statement dismissing Smith as a . a fraud case involving the sale of one of its subprime mortgage securities. . J.P. Morgan, Bank of America and Citigroup have all made, or are trying to .
http://m.torontosun.com/2012/03/16/occupy-wall-st-revisited

INSPECTING LOANS

The responsibility of the Financial Institutions on the Subprime ...
Financial Institutions' Responsibility in the Subprime Mortgage Crisis. Fernando Diaz Piera . page 10 v. Financial Institutions' Ethical implications page 13 .
http://www.ethicalquote.com/docs/SubprimeMortgageCrisis.pdf

July 2009: Would Islamic finance have prevented the global ...
Oct 1, 2009 . Such ethical behaviour would have prevented the growth of the sub-prime mortgage market, which was the root cause of the global financial .
http://www.newhorizon-islamicbanking.com/index.cfm?section=features&action=view&id=10848

Goldman Sachs Charged Over Subprime Mortgage Securities ...
Apr 16, 2010 . Goldman Sachs Charged Over Subprime Mortgage Securities . Goldman shares were down over 10% and competitors like Morgan Stanley and Citigroup were also off. . Did these fools not take business ethics in college. J.C. JORDAN4/17/ 2010. The behavior of these companies is absolutely disgusting.
http://voices.yahoo.com/goldman-sachs-charged-over-subprime-5845198.html

sub prime « Ethical Houston
A virtual community for the discussion and sharing of ethical issues . Roubini uses the term “moral hazard” to explain the behavior of some companies . He uses Citi Bank as an example of the result of “moral hazard” going back to the . the SEC deregulated the sub prime mortgage business opening it up to other entities .
http://ethicalhouston.com/tag/sub-prime/

Toward a Public Enforcement Model for Directors' Duty of Oversight
on Corporate Governance and Business Ethics at Notre Dame Law School, the Panel on New . behavior, some form of external discipline is necessary to ensure optimal . softened, Citigroup ramped up its subprime mortgage operations, .
http://law.vanderbilt.edu/publications/journal-of-transnational-law/download.aspx?id=7964

Should Some Bankers Be Prosecuted? by Jeff Madrick and Frank ...
Nov 10, 2011 . The risk of losses from the loans and mortgages these firms routinely bought and sold, particularly the subprime mortgages sold to low-income borrowers with poor . from firms like Citigroup in the early 2000s, he never brought a criminal case. . Lack of ethics and corrupt behavior will channel the nation's .
http://www.nybooks.com/articles/archives/2011/nov/10/should-some-bankers-be-prosecuted/?pagination=false

Daily Kos: Citigroup cuts a Deal, that conveniently Avoids any Real ...
Oct 22, 2011 . First to understand the true implications of the Citigroup Settlement . of the AA to BBB tranches of entire subprime mortgage bond issues to be placed into CDOs . When there are No Real Consequences for bad behavior (ie. cheating, etc . Document Mills · Econ 401 · Economic Literacy · Economy · ethics .
http://www.dailykos.com/story/2011/10/22/1029023/-Citigroup-cuts-a-Deal-that-conveniently-Avoids-any-Real-Consequences

How Goldman Sachs Made Tens Of Billions Of Dollars From The ...
Dec 30, 2009 . Find Out How Reverse Mortgages Provide Secure Monthly Income for Life! . decided at that time to reduce its mortgage risks by selling off subprime mortgage -related securities and . Citigroup Global Markets Inc. . from the decline their value, then such outcomes involve questionable ethical behavior.
http://theeconomiccollapseblog.com/archives/how-goldman-sachs-made-tens-of-billions-of-dollars-from-the-economic-collapse-of-america-in-four-easy-steps

Why Didn╎t Subprime Investors Demand a (Much Larger) Lemons ...
Charles Whitehead, participants at workshops at the Behavioral Analysis of Law: Market . Id.; see also John Carney, Citigroup Settlement Shows Low Cost of Lying to Markets, CNBC . that subprime-mortgage securities were good investments. . Gatekeeper's Guide to the Psychology, Culture and Ethics of Financial .
http://scholarship.law.duke.edu/cgi/viewcontent.cgi?article=1627&context=lcp

Citigroup To Pay Out $158 Million Settlement For Mortgage Fraud ...
Feb 16, 2012 . Citigroup Inc, the third largest bank in the US, has agreed to pay the US . Related: US To Sue Banks Over Subprime Mortgage Loans . Is There Such A Thing As An Ethical iPhone? . “BP's Behaviour” Leads To Collapse Of US$7 Billion Deal: Argentinean energy company Bridas Energy Holdings .
http://www.economywatch.com/in-the-news/citigroup-to-pay-out-158-million-settlement-for-mortgage-fraud.15-02.html

Which of the Six Big 6 Banking Houses Was the Most Shameless ...
Dec 31, 2010 . None of this criminal behavior has stopped them from sulking over a presidential slight. . As Citi's annual report notes, "Citigroup and Related Parties have . arising from the global financial credit and subprime-mortgage crisis . President's Top Terrorism Aid Calls Drone Killings "Legal," "Ethical," "Wise" .
http://www.alternet.org/economy/149375/which_of_the_six_big_6_banking_houses_was_the_most_shameless_corporate_outlaw/?page=entire

BULLYING

Moridura - - - ©Copyright Peter Curran 2012: Citigroup – the ...
Nov 2, 2011 . Citigroup and the Subprime mortgage crisis . It is exactly the kind of company and the kind of behaviour that has caused protesters to camp .
http://moridura.blogspot.com/2011/11/citigroup-company-attacking-scotlands.html

2008 Citizenship Report - Citigroup
is the positive impact Citi has on society and the environment through its core business activities, diversity . Help borrowers affected by the mortgage crisis. • Manage . behavior and ethics that apply across Citi. . with subprime mortgage .
http://www.citigroup.com/citi/citizen/data/cr08.pdf

60 Minutes - Prosecuting Wall Street Fraud At Citigroup And ...
Something about ethics and why he as the Dean felt students should have a ruthless . powerful, and influencial rarely are held accountable for their behavior. . granted two cut-rate mortgages of nearly US$800000 by subprime mortgage .
http://dailybail.com/home/60-minutes-prosecuting-wall-street-fraud-at-citigroup-and-co.html

Obama Sued Citibank Under CRA to Force it to Make Bad Loans ...
Sep 30, 2008 . In the early 1990s, reports Stanley Kurtz, senior fellow at the Ethics and . The sub-prime mortgage mess has happened because the lenders are . 2) Once again, you are stating their political record and trying to inflate the behavior by . best work was on the case against Citi; that case was the judicial .
http://iusbvision.wordpress.com/2008/09/30/obama-sued-citibank-under-cra-to-force-it-to-make-bad-loans/

Capitalism Without Failure: President Obama's view of fraud “from ...
Dec 20, 2011 . “Wild risks” are not remotely Wall Street's “least ethical behavior. . lenders who made subprime liar's loans compounded their initial mortgage .
http://www.capitalismwithoutfailure.com/2011/12/president-obamas-view-of-fraud-from.html

The Unraveling
less willing to accept subprime and Alt-A mortgages or mortgage-backed . such as Citigroup and Merrill Lynch, reduced mortgage exposure in some . it was a proper, legal, or ethical practice for Goldman to sell clients mortgage securi- . Blankfein responded, “I do think that the behavior is improper and we regret the re- .
http://fcic-static.law.stanford.edu/cdn_media/fcic-reports/fcic_final_report_chapter12.pdf

Causes of the late-2000s financial crisis - Wikipedia, the free ...
. system they oversaw; and systemic breaches in accountability and ethics at all levels.“ . Subprime mortgages remained below 10% of all mortgage originations until . subject to speculation, this behavior changed during the housing boom. . The former CEO of Citigroup Charles O. Prince said in November 2007: "As .
http://en.wikipedia.org/wiki/Causes_of_the_late-2000s_financial_crisis

SEC | Alison Frankel
Feb 29, 2012 . And though he informed the agency's ethics office of his inheritance (and . for allegedly misleading investors about subprime mortgage exposure. . Bear didn 't admit deliberate or dishonest behavior when it agreed to the disgorgement. . The SEC filed the Citigroup case in federal court in Manhattan, .
http://blogs.reuters.com/alison-frankel/tag/sec/

THREE ETHICAL DIMENSIONS OF THE FINANCIAL CRISIS
By studying the behavior of the agents who made the . increase in mortgage loan defaults, especially in the so-called subprime segment. . “While the music plays, you have to dance,” said Charles (“Chuck”) Prince, CEO of Citigroup, in .
http://www.iese.edu/research/pdfs/DI-0944-E.pdf

Junk Bonds, Subprime and the Pepper Crises: Investor Behavior ...
Jul 17, 2009 . So it is with real estate and subprime mortgages today, and so it was with . to the woes of such big banks as Citigroup and Bank of America.
http://knowwpcarey.com/article.cfm?aid=215

25 Men Behind the Financial Crisis | Business Pundit
Apr 29, 2009 . After the bank, one of the largest mortgage providers in the country, was bailed out . AAA ratings to subprime-backed securities during the housing bubble, . He also supported Citigroup's “unwieldy financial supermarket model” . people whose behavior caused the crisis—follows its own frenetic agenda.
http://www.businesspundit.com/25-men-behind-the-financial-crisis/

So Maybe Citi Created A Mortgage-Backed Security Filled With ...
Oct 19, 2011 . Citi today paid out some of its DVA gains to settle SEC charges that it sold . place filled with smart and ethical people (really) and which also was a market . be heard to complain about the mostly unimpeachable behavior of said . claiming it misled investors about risks linked to subprime securities.
http://dealbreaker.com/2011/10/so-maybe-citi-created-a-mortgage-backed-security-filled-with-loans-they-knew-were-going-to-fail-so-that-they-could-sell-it-to-a-client-who-wasnt-aware-that-they-sabotaged-it-by-intentionally-picking/

 

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Ethics Sage: February 2012
Feb 20, 2012 . Mortgage Fraud Exposed: Subprime Loans, Fraudulent Foreclosure Practices and Robo-Signings . it was announced on February 17 that Citigroup has agreed to pay . After all, the first signs of such behavior were in 2008.
http://www.ethicssage.com/2012/02/index.html

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