The third omission from Attorney General Eric Holder’s press conference announcing the settlement with Citigroup of civil charges was the words “criminal” and “indictment.” The
Department of Justice (DOJ) press conference had a scripted press release.
According to DOJ’s Statements there should have been Numerous Indictments
The DOJ press release contains the following statements that logically should have led to an indictment of a large number of Citi’s officers. Holder states: “The bank’s activities contributed mightily to the financial crisis that devastated our economy in 2008.” Citi “made serious misrepresentations to the public – including the investing public – about the mortgage loans it securitized in RMBS.” Holder’s press release called them “toxic mortgages.” Holder emphasized the “strength of the evidence of the wrongdoing committed by Citi….” Holder stated that Citi’s officers knowingly made false “reps and warranties.”