Saturday, January 22, 2005


Reason #7,359 to Fight Social Security Privatization.

Reuters reports the SEC may institute legal action against Citigroup:
NEW YORK (Reuters) - The staff of the U.S. Securities and Exchange Commission is considering recommending a civil injunction and/or administrative proceedings against Citigroup Asset Management, Citicorp Trust Bank, former asset management unit Chief Executive Thomas Jones and three other people, Citigroup (C.N: Quote, Profile, Research) said on Friday.

The New York-based financial services giant said the actions are related to its creation and operation of an internal transfer agent unit serving more than 20 Citigroup-managed closed-end funds. One of the individuals remains a Citigroup Asset Management employee and two are no longer with the money-management entity.

Maybe we should rename Bush's initiative the "Charles Keating Memorial SSI Privatization Plan."


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