Citigroup had to pay a $285 million fine to settle a case in which, with one hand, Citibank sold a package of toxic mortgage-backed securities to unsuspecting customers — securities that it knew were likely to go bust — and, with the other hand, shorted the same securities — that is, bet millions of dollars that they would go bust. It doesn’t get any more immoral than this.
It probably gets a lot more immoral, but this sure is ugly.
via Did You Hear the One About the Bankers? – NYTimes.com.