Summary: Details how Citigroup almost got away with paying a $125M fine for defrauding its customers $700M. "The amazing thing about the wave of corruption tha

Summary: Details how Citigroup almost got away with paying a $125M fine for defrauding its customers $700M. "The amazing thing about the wave of corruption that has overtaken the financial services industry is that most of it couldn’t happen without virtually every player at every level signing off on these deals. From the ratings agencies to the law firms to the accounting firms to the regulators to the bank executives themselves, everybody had to be on board in order for a lot of these fraud schemes to work. "Judges are a part of that picture, and too often, members of the bench sign off on dirty deals made between banks and regulators when the law says that such settlements must be “fair, reasonable, adequate and in the public interest.” Edit: changed Bank of America to Citigroup. Wrong bank.