Bad behavior in financial services

In case you missed it, Freddie Mac and Fannie Mae have cost taxpayers tens of billions to date. The bill is still rising, however, as the two companies are looking for $50 billion more to avoid technical insolvency.

Then there is Citigroup who has had their hands out for $45 billion. They have also written down over $80 billion in bad assets. Yet, they are still splurging on corporate jets.

The video below reports on these events, on John Thain’s million-dollar office makeover and more. Needless to say, we have a clear case of banks behaving badly.

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In case you missed it, Freddie Mac and Fannie Mae have cost taxpayers tens of  billions to date.  The bill is still rising, however, as the two companies are looking for $50 billion more to avoid technical insolvency.

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Then there is Citigroup who has had their hands out for $45 billion.  They have also written down over $80 billion in bad assets.  Yet, they are still splurging on corporate jets.

The video below reports on these events, on John Thain’s million-dollar office makeover and more. Needless to say, we have a clear case of banks behaving badly.

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