Thursday, October 20, 2011

Citigroup pays court settlement

The S.E.C. announced that Citigroup has agreed to pay $285 million to settle a civil complaint that it had defrauded investors in a mortgage securities deal. They would not have paid the settlement if the allegations were false. Citigroup bailed out with tax dollars for committing investment fraud. Go figure.


  1. New York Post

    "After months of pretending that “Fast and Furious” was a botched surveillance operation of illegal gun-running spearheaded by the ATF and the US attorney’s office in Phoenix, it turns out that the government itself was selling guns to the bad guys."

    "Agent John Dodson was ordered to buy four Draco pistols for cash and even got a letter from his supervisor, David Voth, authorizing a federally licensed gun dealer to sell him the guns without bothering about the necessary paperwork."

    “Please accept this letter in lieu of completing an ATF Form 4473 for the purchase of four (4) CAI, Model Draco, 7.62x39 mm pistols, by Special Agent John Dodson,” read the June 1, 2010, letter. “These aforementioned pistols will be used by Special Agent Dodson in furtherance of performance of his official duties.”

    "On orders, Dodson then sold the guns to known criminals, who first stashed them away and then -- deliberately unhindered by the ATF or any other agency -- whisked them off to Mexico."

    "A ...notion is that the CIA was behind the whole thing, which accounts for all the desperate wagon-circling. Under this theory, the Agency feared the los Zetas drug cartel was becoming too powerful and might even mount a coup against the Mexican government. So some 2,000 weapons costing more than $1.25 million were deliberately channeled to the rival Sinaloa cartel, which operates along the American border, to keep the Zetas in check."

    No one ever had any way of tracking these firearms when they crossed the Mexican border anyway; so how can they pretend this *Operation* had any meaning to begin with? It's very obvious people will speculate, isn't it, when faced with complete irrationality?

  2. CAI, Model Draco, 7.62x39 mm pistol

    CAI stands for Century Arms Inc. The 'Draco' is actually a short barreled semi-auto only AK-47. It was produced by CAI without a stock which under US law makes it a 'pistol'. It is not a pistol in the standard usage of the term. It fires the same 7.62 rifle round as the standard AK47 from a standard 30 round AK 47 magazine.


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