What’s Inside the Government’s Deal With Citigroup?
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May 31 (Bloomberg) -- The conservator for Fannie Mae andFreddie Mac was eager for publicity in September 2011 when itsued 17 financial institutions, accusing them of ripping off thetwo government-backed housing financiers. It isn’t soenthusiastic anymore.
This week the U.S. Federal Housing Finance Agency told afederal judge it had settled its case against Citigroup Inc. Theagency won’t say how much money Citigroup is paying. Neitherwill Citigroup, which survived the financial crisis only becauseit got multiple taxpayer bailouts. The parties agreed to keepthe terms confidential. The government has decided this is noneof the public’s business.