Citigroup
Urges Secrecy
for Its
Defrauding of
Gulf Rich,
Like Subprime
Poor
By
Matthew
Russell Lee
WALL
STREET / DC,
September 11
-- Citigroup
since its
formation by
Citibank and
Travelers has
ripped off
consumers with
high cost
subprime
loans, and
laundered
money for
dictators and
terrorists, as
covered by
Inner
City Press
earlier today
on this
eleventh 9/11
anniversary.
But
Citigroup also
corrupts the
legal system
with the
secrecy
surrounding
its mandatory
arbitration
agreements,
invoked even
against big
investors like
the Abu Dhabi
Investment
Authority or
ADIA.
Back
in
December 2009,
Inner City
Press noted
that "an
arbitration
claim by the
Abu Dhabi
Investment
Authority
against
Citigroup,
seeking to
rescind an
agreement to
invest a total
of $7.5
billion in
the U.S.
lender or
damages of
over $4
billion has
been filed,
alleging that
there were
'fraudulent
misrepresentations'
in the
investment
agreement.
Sort of like
CitiFinancial's
'fraudulent
misrepresentations'
to its lower
income
borrowers."
Little
did we known
that nearly
three years
later,
Citigroup
would still be
withholding
documents
about this
dispute as
confidential.
No
wonder:
implicated is
former
Treasury
Secretary
Robert Rubin,
who
made the
promises that
Citi didn't
keep, as well
as Sandy Weill
who
made more
money off the
deal.
Judge
George B.
Daniels of the
U.S. District
Court for the
Southern
District has
before him
Press requests
to unseal the
records in the
public
interest. But
Citigroup says
it must all be
secret. Does
Citigroup
still dominate
Washington?
Watch this
site.
, 
