Saturday, January 22, 2005
Reason #7,359 to Fight Social Security Privatization.
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."