What is Citigroup doing?
Mar. 27th, 2008 05:17 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
solarbirdI'm still fighting this Martian Death Flu so I'm not doing a lot in the way of econ reading and stuff - mostly I'm napping and otherwise lazing about, frankly - but I did want to get a heads up on this:
Mish at Global Economic Trend Analysis has pretty good evidence that Citigroup is committing credit fraud on a possibly massive scale by lying to customers about rate changes in a marketing effort to get people not yet in trouble to refinance mortgages at higher rates. They're listing "projected" upcoming rate adjustments which are fictional, and significantly higher than apparent reality. So consider yourself warned if you are dealing with Citigroup.
Documents (scans, etc) in Mish's post, and yes, he shows his math.
Mish at Global Economic Trend Analysis has pretty good evidence that Citigroup is committing credit fraud on a possibly massive scale by lying to customers about rate changes in a marketing effort to get people not yet in trouble to refinance mortgages at higher rates. They're listing "projected" upcoming rate adjustments which are fictional, and significantly higher than apparent reality. So consider yourself warned if you are dealing with Citigroup.
Documents (scans, etc) in Mish's post, and yes, he shows his math.
