Citigroup’s Mexican unit under FBI scrutiny for alleged fraud
Breakfast with Benjamin: Citi under the FBI microscope. Plus: Using P/E ratios to dispel bubble theories, re-calculating the size of the nation's oil reserves, big banks and big overdraft fees, GM and political grandstanding, and it's always a good time to teach kids about money.
- Citigroup’s faraway Mexican unit has gotten a little too close for comfort for the big bank, as the FBI and prosecutors press their investigation in a $400 million fraud case. Mounting government inquiries
- If you want to believe the stock market is not in or near a bubble, just stay calm and focus on price-to-earnings ratios. We’re still nowhere near the market peaks of 2000
- It turns out, the math used to calculate the nation’s oil reserves is more of a guesstimate than actual math. Oops. ”Long-term production may be overstated”
- If you needed another reason to be upset with banks, you’ll be pleased to know the average overdraft fee just hit $30, up from $29 last year, and $26 in 2009. Thanks, banks. Mighty big of you. Falling into rising fees
- Unless the mainstream media stumbles upon a bigger distraction real soon, these GM hearings are going to get a lot of people on the bandwagon supporting more punishment for corporate fraud. Let the political grandstanding begin
- Kids are never too old to learn how to use, and not use, money. Once you spend it, it’s gone forever
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