Morning Roundup: SEC Takes a Poke at Citi

wallstreet29 12 Morning Roundup: SEC Takes a Poke at Citi

  • The Securities and Exchange Commission has subpoenaed some former Citigroup brokers as part of an investigation into the mega-sized, bailed-out bank’s handling of leveraged debt funds concentrated in municipal bonds and mortgage debt. [WSJ]
  • You know what’s still a big problem? European sovereign debt. Ireland is looking precarious, but let’s not forget about Portugal, Spain and Greece. [NYT]
  • Small banks are still failing like the dickens. [AP]
  • Some people — like the nation of China — are unhappy with Federal Reserve Chairman Ben Bernanke’s decision to flood the economy with $600 billion in quantitative-easing liquidity. Goldman Sachs, one of the banks that will be trading Treasuries to the Fed for cash, thinks Bernanke made an excellent choice. [Bloomberg]
  • Third-quarter net income at Warren Buffett’s Berkshire Hathaway fell 8 percent year over year to a measly $2.99 billion. [CNNMoney]

mtaylor [at] observer.com | @mbrookstaylor