Tag Archives | Citibank

Stressed: What Are They Trying To Tell Us?

CitibankOk, I have to admit it, I feel as though my faith in economic justice is being tested with these stress tests. Truth is, I  am becoming more stressed than ever.

The reason: despite all the “regulations” in the Dodd Frank Financial “reform” and the Volcker Rule and The Fed’s “oversight:’ the banks seems to have free reign to do what they will despite the financial crisis, and the pathetic “recovery.”

There have been fines and settlements but nothing is settled. None of them have or will go to jail.

Economic conditions continue to stress out millions even as the Fed announces “stress tests” that appear on the surface to be a way of insuring that big banks won’t need more bailouts.

Sad to say, it’s more of the charade. Partially that’s because the banks dominate the Federal Reserve, a private, not public, institution.

And, partially, because when it comes to economic crises, the stories are buried in the business pages and rarely surface as topics of concern on popular talk shows and media that most folks watch.… Read the rest

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FBI Says Citibank Gave Billionaire Paul Allen’s Debit Card to ID Thief

Paul Allen in his Microsoft days with Bill Gates.

Paul Allen in his Microsoft days with Bill Gates.

David Kravets reports at WIRED’s Threat Level:

An alleged Army deserter is being charged with bank fraud in connection to the socially engineered hijacking of Microsoft co-founder Paul Allen’s debit card.

In a complaint unsealed Monday, federal authorities allege Brandon Price, of Pittsburgh, Pennsylvania, obtained the billionaire’s debit card from Citibank via a telephone call to the bank’s customer service bureau in January. At Price’s request, the bank changed Allen’s address to Price’s Pittsburgh house, and overnighted him the card.

“An individual identifying himself as Paul Allen called the customer service department of Citibank. The caller stated that he had misplaced his debit card at his residence, but did not want to report it stolen. The individual then successfully ordered a new debit card on the account of Paul Allen and had it sent via UPS,” FBI agent Joseph J. Ondercin said (.pdf) in a legal filing.

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Woman Arrested For Closing Her Bank Account

Wonkette has a disturbing account of the NYPD's alleged arrest of Citibank customers for attempting to close their bank accounts. A snippet:
"I heard that a few dozen people had decided to head over to the local Citibank branch to talk about their student debt and close their accounts. I thought one of my friends might be among them so I walked the few blocks to the bank. As I arrived I saw Citi Bank security guards locking the doors to the bank. Contrary to the City Bank PR statement, the cops were not yet on the scene when Citi Bank officials chose to lock the doors to the branch–effectively kidnapping those inside."
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Media Fail: The U.S. Gov’t Making An $8 Billion Dollar Profit Off Its Bailed-Out CitiGroup ‘Investment’ … Is Complete BullSh*t

Darth Vader Opens Wall StreetHeadlines like "U.S. to sell entire stake in Citi at hefty profit" are complete BS. Dylan Ratigan explains in the first part of this clip below how we, the taxpayers, gave a total of $23.7 trillion to these banksters. $8.8 billion hardly makes a dent. The greatest transfer ("theft") of wealth to bankers in the history of the world has happened, and the beneficiaries are in the heart of Manhattan. It's great for those folks, but has damaged the lives of many people living outside of that city across the country...
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Russian Cyber Gang Steals Tens of Millions From Citibank

Is there no end to the run of mishaps at Citibank? Remember, as the U.S. Government owns a massive stake in Citi, paid for with our tax dollars, the Russian hackers stole your money. The latest, from the Wall Street Journal:

The Federal Bureau of Investigation is probing a computer-security breach targeting Citigroup Inc. that resulted in a theft of tens of millions of dollars by computer hackers who appear linked to a Russian cyber gang, according to government officials.

The attack took aim at Citigroup’s Citibank subsidiary, which includes its North American retail bank and other businesses. It couldn’t be learned whether the thieves gained access to Citibank’s systems directly or through third parties.

The attack underscores the blurring of lines between criminal and national-security threats in cyber space. Hackers also assaulted two other entities, at least one of them a U.S. government agency, said people familiar with the attack on Citibank.

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