Detailed text transcripts for TV channel - FOXNEWS - 20111030:20:21:00
The area. >> gregg: there are new questions over nearly $300 million fraud settlement involving citigroup. banking giant was accused of misleading investors back in 2007. they have since reached that settlement with the sec but a federal judge says hold on. citigroup, which made nearly $4 billion in profits in this quarter alone. maybe this isn't quite right. let's bring in brenda butner. good to see you. citigroup was peddling known as a collateralized debt obligation what happens? >> yes, it is a fancy term for what is basically an investment that was backed by mortgages. this is in 2007.
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