Wall Street's Complicity in Financial Scandals. While the blame is parsed amongst the CEOs of companies like Worldcom, Tyco, Healthsouth, Enron, that swindled their investors for billions of dollars, prosecutors are also heading after the banks that funded their rise. Citicorp was just forced to pay $2 billion to investors for their association with Enron (NYT), for encouraging people to invest against good judgment in companies that Citicorp would profit from.
posted on Jun 10, 2005 - View this thread