2008-08-12 — loanworkout.org
``Citigroup, in particular, forged these agreements with investors purchasing CDOs backed in part by subprime mortgage assets. The agreements granted investors the option to sell the CDOs back to the bank in the event of financial difficulty. Citigroup moved the CDOs off its balance sheet without accounting for the fact that it could be required to re-purchase the assets at some point in the future… ''
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