- Business
- » Gas prices slip below $2 nationally
- » Housing Starts Hit Record Low; Drop 4.5% in October
- » Dangerous Toys Could Still Be on Shelves
- » Asian, European stocks rebound after Wall Street rout
- » Black Friday Deals Try to Beat Recession Fears
- » Gas prices extend decline: 5 days and counting
- » Statoil to stop investing in Iran
- » Gas price drop: Closing in on $3
- » Fed to Buy $600B in Mortgage-Backed Assets
- » Sunday oil trading to test Gustav reaction
- » Citigroup Returning Billions To Investors
- » DHL cuts 9,500 U.S. jobs
- » Wells Fargo Acquiring Wachovia for $15.1 B
- » Bush Goes Full Speed Ahead On Bailout
- » Dow falls below 10,000
- » Millions Spent On Unapproved Medicines
- » Offshore Drilling Debate Hits Senate
- » Gas prices ease for 8th straight day
- » Wall Street gains at the open
- » Oil rises as market waits
- » New bailout planned
- » Average gasoline price falls below $2, cheapest since 2005
- » Stocks struggle ahead of crucial bailout vote
- » Elizabeth Edwards Focuses On Health Care
- » Hundreds Stranded As Airline Shuts Down
- » Consumer Prices Drop 1.0% on Lower Gasoline Costs
- » Carmaker GM loses another $15.5bn
- » Stocks slump on recession fears
- » U.S. mulls buying bank shares
- » UK's Nationwide buys mortgage rivals
- » Legendary singer Makeba dies after collapsing on stage
- » Michigan Could Lose 60,000 Jobs If GM and Chrysler Merge
- » Meltdown Warnings Ignored, Analysis Shows
- » Global Market Meltdown Continues
- » Home foreclosure filings up 55 percent in July
- » Illinois sheriff: No foreclosure evictions on my watch
- » Key to the Crisis: It's the Housing Market, Stupid
- » Fannie Mae and Freddie Mac: A Damage Report
- » 7.5 million homeowners 'underwater'
- » Gas price decline nears 40 cents
- » Regulations affecting appraisers largely useless
- » Signs of hope
- » Out Of Work, Out Of Insurance, Out Of Luck
- » Estamos en recesión mundial: Expertos
- » New world on Wall Street
- » GM, Ford report huge losses, worries about survival loom
- » U.S. pulls the trigger
- » WaMu Seized, Sold Off in Biggest Bank Failure in U.S. History
- » World Stock Markets Continue The Rally
- » Building A Better Automaker
- » More Mortgage-Fraud Reports May Signal Industry Cleanup
- » A bad investment ripples through Main Street
- » Stocks jump on Lehman, oil
- » Congress To Re-Scrutinize Bailout Plans
- » Oil sinks more than $4 as dollar rallies
- » Financial Woes Force Boomers to Work Longer. That's Good
- » World Markets Slide Further; Japan's Nikkei Hits 26-Year Low
- » Jobless Claims Soar To 7-Year High
- » Wall Street opens higher after China stimulus
- » FBI probing bailout firms
- » Stocks slump on AIG, housing
- » Economic chaos creates surge in homelessness
- » Gas prices continue month-long slide
- » The Market Outlook: More Plunges or a Year-End Rally?
- » Want A Raise? Merit Pay May Be Only Way
- » Oil Hits 8-Month Low Under $90 A Barrel
- » US jobless rate at four-year high
- » Stocks set for sharp gains
- » Low marks for Paulson, bailout
- » JetBlue to Auction Flights on eBay
- » More pain at Fannie - $2.3 billion loss
- » Markets Cheer Calls to Overhaul Global Finance
- » Audit: ATF Loses Weapons; Hundreds of Laptops
- Entertainment
- » Ashanti Rocks The Youth Vote
- » Natalie Portman's Directorial Debut
- » Hathaway dazzles in 'Rachel'
- » Hefner biography full of sex, fun
- » Daniel Craig and the pain of being James Bond
- » Prosecutor plays tapes of angry, cursing O.J.
- » Heroines abound on cable, but 'The Starter Wife' is something new
- » Tina Fey: Please watch my 'fun comedy show'
- » "Bangkok" Tops Slow Weekend Box Office
- » Doctor: DJ AM, Blink-182's Barker severely burned in crash
- » Gervais gives edge to 'Ghost Town'
- » Beyonce and Jay-Z Top Forbes List of Hollywood Power Couples
- » Faris saves 'House Bunny' with comic timing
- » Wacky Brit ready to grab America through VMAs
- » Movie paints picture of catastrophic future
- » Something is rotten in 'Hamlet 2'
- » 'In a world' voiceover master dies at 68
- » Carrie Underwood Loses Respect for Stars Who Endorse a Candidate
- » 'Mentalist' performs real trick: it's a TV hit
- » Holmes' Broadway Debut Heats Up Red Carpet
- » Another star booted from 'Dancing'
- » Indian Models: Fashion's Next Love Affair?
- » Hef Who? Holly Madison and Criss Angel Get Spooky Together in Sin City
- » Music mogul Suge Knight arrested in Las Vegas
- » Why Lisa Bonet Is Nervous About Her Return to TV
- » Clooney raises money in Venice for Darfur victims
- » Holly Madison Seems Miserable Without Hugh Hefner
- » When 'The Blob' came to town
- » 'HSM3' is pretty good
- » Harry Shearer's 'Oh my God' moments
- » Kate Hudson Says Being Beautiful Is 'Weird'
- » Dave Matthews Band saxophonist dies, spokeswoman says
- » Prince wishes 'freedom' for every artist
- » Meet the new 'American Idol' judge
- » Britney and Justin's Mini Reunion at Madonna Concert
- » Spears' mom chronicles stormy times in memoir
- » Mother & daughter show 'Kathy and Kim' a relative bore
- » Donald Trump Gets Emotional Over Christina Aguilera
- » Madonna, Guy Granted Preliminary Divorce
- » Newman’s Favorite Role: Philanthropist
- » Chesney CMA Entertainer Of Year ... Again!
- » PETA Steps Into Hogan Fight: Is Linda Lying About Her 'Fake' Fur?
- » Broadway debut for Haley Joel Osment
- » Janet Jackson rushed to hospital, cancels Montreal concert
- » 'Four Christmases' debuts in No. 1 slot
- » Paul Newman dies at 83
- » Singer Lucinda Williams shows joy in 'Little Honey'
- » 'Body of Lies' flat
- » Dog Gone Disney
- » Keira Knightley Talks Boobs, Babies & Wanting to Set Her Head on Fire
- » Bill Murray looks for renewal after 'devastating' divorce
- » Solange Snaps On Live TV: Don't You Dare Call Her Beyonce's Sister!
- » Contrived 'Burn After Reading' disappoints
- » The breakout star of 'Bolt' (and it's not the dog)
- » Legendary singer Joan Baez says she's finally happy
- » 'Twilight' needs more flash
- » Pop star's murder sheds light on hidden world
- » 'Family Guy' creator is a wealthy man
- » 'Great Kisser' Eva Mendes Plays Other Woman in Lesbian Relationship
- » Is Britney's Comeback Too Much, Too Soon?
- » Top Fashion Labels Gift Lauren and Audrina but Refuse Clothes to Heidi?
- » Holly Moves Out of Hugh Hefner's Master Bedroom, New Girls Move In
- » Sheryl Crow inspires voters with free music
- » Hugh Hefner Says Girlfriends Aren't Leaving Him
- » Jacko's Nanny in Hiding
- » 'Three Stooges' Headed To Big Screen
- » Fans can shop with Oprah online
- » Vanessa Hudgens Sick of Stalkers
- » 'Milk' is a terrific film
- » Brit admits marriage to K-Fed was a mistake
- » 'Fireproof' surprise hit of the fall
- » 'Infinite Jest' author, 46, an apparent suicide
- » Best-Selling Author Michael Crichton Dies
- » Tom Jones goes retro for new album
- » Vivica A. Fox's style leaves something to be desired
- » 'Dark Knight' tops $500 million
- » 'Dancing' bids goodbye to another star
- » Cowboys cheerleader, comic geeks on 'Amazing Race'
- » When Wacky Packages ruled
- » Disney actor booted from 'Dancing'
- » Dancing is hotter than ever ... on TV
- » New 'Idol' Judge Starred in Reality TV Bomb
- » The little band that wants to change the world
- » Guy Ritchie returns to crime world with new film
- » Anne Rice comes to Jesus
- » Fey on this week's 'SNL' plans: 'I don't know'
- » Oprah sued over man's arrest on extortion charge
- » Al Pacino collects award at Rome Film Festival
- » Indie prince Sarsgaard goes British on Broadway
- » Hoping new '90210' as good as the old
- » Vampires, sex make 'Blood' a hit
- » 'Bones' characters still have issues
- » 'Blindness' provokes blind activists nationwide
- » Spitzer Hooker to His Wife: I'm Sorry for Your Pain
- » Baldwin promotes the book he didn't want to write
- » Madonna and Guy to divorce
- » What Does Victoria Beckham Really Think of David in His Underwear?
- » Chris Rock: It's simple, vote for the guy with one house
- » Simon Cowell Not Hollywood's Only Serial Single
- » DJ AM Gives First Performance Since Deadly Plane Crash
- » Jenny McCarthy Slams Amanda Peet Over Vaccines
- » Dion salutes his 'Heroes' on new CD
- » Diddy and Beyoncé Moved to Tears By Obama's Victory
- » Britney steals show at drama-free VMAs
- » 'Dancing' sends Susan Lucci back to Pine Valley
- » Anna Faris Felt 'Awful' Shedding 10 Pounds, Was Intimidated by Hef’s Girlfriends
- » 'Mad Men' wins best drama, '30 Rock' best comedy
- » Tara Reid Says She Isn't Acting Because of the Strike
- » "Marcia Brady": I Had Fling With "Greg"
- » Twilight Sucks Up Huge Box Office Bucks
- » Lindsay Lohan's Dad Wants Samantha Ronson Out of Her Life
- » Britney Spears: Ready for Husband Number Three
- » Coen Brothers "Burn" Up Box Office
- » Taylor Swift: I Have Trouble Buying Underwear Now That I'm Famous
- » Jessica Simpson Talks About Abuse, Wants to Make Babies
- » Dead athlete's relatives star in Ice Cube video
- » Mickey Rourke makes comeback from rough times
- » Kardashian, Bass among new 'Dancing' stars
- » Michael Moore: Stop reading now
- » Jolie outstanding in Eastwood's 'Changeling'
- » BBC's top star loses $2.4m in phonecall row
- » 'Mad Men' flying high -- except in the ratings
- » Body of Former 'American Idol' Standout Found in Car Outside Paula Abdul's Home
- » Stars roast 'Today' show host Matt Lauer
- » Stars join the furor over gay marriage ban
- » Sean Connery's early life as a milkman
- » "Four Christmases" Unwraps $46.7M
- » Why Scarlett Johansson kissed Penelope Cruz
- » Hudson offers $100,000 reward for nephew's safe return
- » Jacko's Secrets Could Be Spilled Again
- » Ewing clan returning for 30th 'Dallas' anniversary
- » Tricky Charli's Caribe 'HIDEAWAY'
- » Appeals court: Phil Spector's retrial can proceed
- » Chris Brown, Kanye West Sweep American Music Awards
- » The battle over 'The Godfather'
- » Ashley Olsen Can't Keep Hands Off New Beau
- News
- » New U.S. commander takes over in Iraq
- » Sarah Palin appears on 'Saturday Night Live'
- » Military Finds Love For "Osprey" In Iraq
- » U.S. Lashes Back After Chavez Forces Envoy From Venezuela
- » Fed: Emergency cut
- » Turkey: Planes Strike Kurd Bases In Iraq
- » College Students Still Face Voting Stumbling Blocks
- » Alaska neighbors love their hockey mom VP candidate
- » Poll: Convention lifts McCain over Obama
- » Palin aide says Obama backers politicizing Alaska investigation
- » Exxon Mobil: Biggest profit in U.S. history
- » U.S. troops launch helicopter assault in Pakistan
- » More Winds Expected To Stoke Calif. Fires
- » Terrorists use cash, avoid financial ties
- » Possible Citigroup Sale Perks Up Wall St.
- » Attorney general collapses giving speech; he's alert in hospital
- » Car Bomb Hits U.S. Embassy In Yemen
- » Politics, fear spell doom for bailout
- » Palin abused power, broke no laws in trooper case
- » Boy Sought After Drug Deal Kidnap In Vegas
- » N. Korea Bans U.N. From Nuke Plant
- » Understanding the Drop in Cancer Cases
- » FBI Warns of 'Anthrax' Letters Sent to Media Outlets
- » Product placement pairs cars with stars
- » 'Oh Great': Astronaut Loses Tool Bag During Spacewalk
- » As debate nears, concerns about Palin's readiness
- » As jobless funds fall, states look to raise taxes
- » Early voting a boost for Dems
- » Teacher Gets 6 Years In Student Sex Case
- » Bush: Bailout Plan Aims to Avoid Future Crisis
- » Palin's budget choices praised, criticized
- » Laura Bush, Cindy McCain to Address Opening Session at GOP Convention
- » As economy sinks, officials fear violent solutions
- » Russia signs treaty to defend separatist regions in Georgia
- » Last Titanic Survivor Hits Rough Waters
- » Thrift stores: We're seeing more middle-class shoppers
- » Palin Goes After Obama on Coal Comments
- » Network anchors join forces to fight cancer
- » McCain pokes fun at campaign in 'SNL' visit
- » Palin details plan for special-needs kids, blasts Obama on taxes
- » Some optimism for global markets
- » U.S. Pilot Ordered to Shoot Down UFO Over England
- » Bush, Fed chair push for rescue
- » After the Financial Crisis, a Clean-Up That Changes Everything
- » Columbia University to Vote on Allowing Military Training Program on Campus
- » Economy Shed 159,000 Jobs in September
- » Cindy McCain goes on the attack
- » 'Irrational' behavior drives gas prices more than Ike
- » McCain, Obama fight for title of 'most qualified'
- » Study Links Sex In Shows To Teen Pregnancy
- » Citigroup to cut more than 50,000 jobs
- » Citi dodges bullet
- » House Democrats plan second economic stimulus package
- » Pentagon 9/11 memorial honors victims in symbols, concrete
- » Karzai Seeks Help Negotiating With Taliban
- » Possible Break In Hudson Murders Case
- » Hurricane Ike leaves 4-plus million without power
- » Syria To Open 1st Ever Embassy In Lebanon
- » Ukraine Democracy Could Cool Its Bid for NATO Membership
- » Ike destroys wildlife 'truck stop'
- » Sept. 11 Marked With Moment of Silence Lead by President, Other Ceremonies
- » Armed Islamists set to attack pirates: report
- » Palin comes out throwing punches
- » On Trial: the Shadowy Network at the Heart of Turkey
- » Taliban split with al Qaeda, seek peace
- » Terrorist watch lists shorter than previously reported
- » Border Clashes Add to US-Pakistani Tensions
- » Ike Strengthens Into 'Extremely Dangerous' Category 4 Hurricane
- » 'Quantum of Solace' No. 1 at box office
- » McCain's Outraged and Outrageous Campaign
- » Cruise Ship Attacked by Somali Pirates
- » Pentagon survivor: 'A lot of good people died'
- » Gates expected to stay on as Obama's defense secretary
- » Peterson claims desertion, meets with divorce lawyer
- » U.S. Encouraged By N. Korea Nuke Actions
- » Opening Statements Start in Fort Dix Plot Trial
- » The bailout: What's at stake
- » Global stocks rebound
- » Sea floods Texas island; get out or 'certain death'
- » Pirates attack Saudi 'super tanker'
- » Hanna visits the Bahamas
- » As Somali Pirates Get Bolder, Policing Them Gets Tougher
- » 16 Reported Dead in US Embassy Blast
- » Sheriff: Bonfire caused 1 of 3 Calif. wildfires
- » Biden touts experience, Palin pushes 'maverick' record
- » Search continues for 2 men in frigid waters
- » It's official: Recession since Dec. '07
- » Fed in AIG rescue - $85B loan
- » Fishing industry hurting in La.
- » 85,000 homes lost to foreclosure in October
- » Former Thai Premier Found Guilty of Corruption
- » Hurricane Gustav begins to pound Louisiana
- » FBI Calls Case an 'Honor Killing,' Upsetting Muslim Group
- » Mumbai Terror Suspect's Arrest Captured on Video
- » Pirates anchor supertanker off Somalia
- » Central banks' $247 billion deal
- » Clinton Said to Be 'Agonizing' Over Secretary of State Decision
- » Wall St.'s Remaining Giants Go Commercial
- » Texas coast faces long recovery after Ike
- » What rescue means for mortgage rates
- » North Korean nuclear plant seals removed
- » OJ Simpson's Fate Rests with Las Vegas Jury
- » Falling oil prices? Food won't necessarily follow
- » Obama, McCain Duel Over The Economy
- » Palin daughter's pregnancy stirs strong emotions from iReporters
- » Stocks set for rebound
- » Texans flee 7 coastal counties ahead of Ike
- » Bomb Kills 1 In Georgia Law Office
- » Fire rages near Getty Center in Los Angeles
- » McCain to show up for debate after all
- » Long lines, glitches reported during early voting
- » 'Awakening' leads to soldier's status as conscientious objector
- » O.J. jury prospects: 'Media' contacted us
- » House GOP objects to spending in $150 billion stimulus package
- » Alabama Plans to Tax Fat Employees to Recoup Insurance Costs
- » Santa Barbara Wildfire Sparked by College Students' Bonfire
- » Syria: U.S. Attack "Serious Aggression"
- » World Leaders Seek Detection Systems at Economic Summit
- » Rain, tornado threat lingers as Gustav fades
- » Stock crunch deepens
- » Fierce winds fan Calif. fire overnight
- » Bush: Bailout plan necessary to deal with crisis
- » Financial rescue 101: What's in the bill
- » JetBlue reopens evacuated terminal at JFK in New York
- » Teen daughter of GOP VP pick is pregnant
- » Ike blamed for 27 deaths from Texas to Midwest
- » AIDS, cancer scientists scoop medicine Nobel
- » Supreme Court Divided On TV Profanity
- » Private levee near New Orleans in danger, official says
- » McCain Defends Health, Campaign Tactics
- » Bailout: Senate to vote Wednesday
- » Lehman Brothers To File For Bankruptcy
- » At Least 168 Die In India Temple Stampede
- » Tina Fey reprises Palin role in 'SNL' debate sketch
- » McCain Campaign Volunteer Admits Alleged Attack Was a Hoax
- » Western Officials Say North Korean Leader Kim Jong Il May Have Suffered Stroke
- » Russia plays down EU threats over Georgia
- » EU Leans On U.S. To Fix Financial Crisis
- » Alaska National Guard Hit "Crisis Level"
- » Quaker tries to outmaneuver military recruiters
- » Thousands without power after winter blast
- » Buffett bio recounts flaws, triumphs
- » Oil prices fall -- will groceries follow?
- » Four things McCain needs to accomplish this week
- » Execution put on hold for man convicted in cop's murder
- » Spain: Son of Osama bin Laden deported
- » Scores Dead In String Of Iraq Blasts
- » State rep seeks witness-tampering probe in Palin inquiry
- » Train collision probe to examine text messages
- » Body of missing girl found in suitcase
- » G-7: 'Urgent action' needed
- » Bernanke Hints at Rate Cut; Wall Street Surges
- » Global stocks suffer again
- » A New Class of Antibiotics Could Offer Hope Against TB
- » Meltdown: A global warming travelogue
- » Florida Keys Residents Weigh Evacuation as Ike Slams Cuba
- » 81,312 homes lost to foreclosure in September
- » Colombia probes mysterious deaths
- » A historic election, no matter the outcome
- » Contaminated Baby Formula Fears Hit U.S.
- » McCain: 'Fight with me'
- » Obama to fill out national security team
- » A Year After Stacy Peterson Vanished, Husband Calls It 'Just Another Day'
- » Sen. Stevens: I Was Unaware I Got Freebies
- » Hawaii Ending Universal Child Health Care
- » Clinton Backs Out Of Event With Palin
- » What's Got McCain Down in Florida
- » Mumbai: PM blames 'outsiders' as hotel battles rage
- » Secret Order Lets U.S. Strike Al Qaeda Anywhere
- » Jennifer Hudson worked her way up
- » Five hostages killed in Jewish center, chaos at hotel
- » Murder trial in Italy has everything a tabloid could want
- » Holiday icon fights slowdown by 'tweeting,' texting
- » Town stunned as 8-year-old charged in two killingsStory Highlights
- » Hurricane Omar nears Puerto Rico with 75-mph winds
- » Ahmadinejad: 'American empire' nearing its end
- » Pope: 'Accept Death at God's Choosing'
- » GOP faces identity crisis in months ahead
- » Could you pass the new citizenship test?
- Technology
- » India: R&D Stronghold
- » Wireless recharging one step closer to reality
- » Best and Worst Places for Data Centers
- » NASA: Space shuttle replacement won't fly until 2014
- » Beijing enhanced Olympics show with faked 'fireworks'
- » Mars Lander Finds Evidence of Past Water, Spots Snow
- » China accused over iTunes outage
- » Crying Foul over Online Junk Food Marketing
- » Google: AOL stake may be a loser
Citigroup Returning Billions To Investors
08/08/2008
Citigroup Inc. will buy back more than $7 billion in auction-rate securities and pay $100 million in fines as part of settlements with federal and state regulators announced Thursday.
Citigroup will buy back the securities from tens of thousands of investors nationwide under separate accords with the Securities and Exchange Commission, New York Attorney General Andrew Cuomo and other state regulators. The buybacks will have to be completed by November.
The nation's largest financial institution also will pay a $50 million civil penalty to New York state and a separate $50 million civil penalty to the North American Securities Administrators Association, which represents securities regulators in the 50 states and the District of Columbia.
The SEC also will consider levying a fine on Citigroup, the agency's enforcement director Linda Thomsen, said at a news conference.
New York-based Citigroup neither admitted nor denied wrongdoing under the settlements.
Cuomo had threatened to charge Citigroup with fraudulent sales of auction-rate securities and with the destruction of key documents.
The $330 billion auction-rate securities market involves investors buying and selling securities backed by municipal bonds, student loans and other debt. The market collapsed in February amid turmoil in the credit markets.
"More than 50 percent of our retail clients' holdings in (auction-rate securities) have been redeemed or auctioned at par since the crisis began," Citigroup said in a statement. "We remain committed to continuing our work on initiatives that will secure the best and fastest route to providing liquidity to our clients."
The federal and state regulators have been investigating marketing of the securities by a number of big banks.
Cuomo's office sued the Swiss bank UBS AG last month over billions of dollars in sales in auction-rate securities, and states including Massachusetts and Texas have filed similar complaints. Massachusetts last week accused Merrill Lynch of fraud in promoting the sale of auction-rate securities.
Interest rates on the securities are set at periodic auctions, on the basis of bids submitted.
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