Asarco associated Citigroup (Citigroup and Harbinger Hedge fund were creditors in Asarco's bankruptcy)

for more on Citigroup and Asarco, search for these key-words within the google-blog's search engine...

"Robert Scheer, Op-Ed: “Can we all agree that a $1 billion swindle represents a lot of money, and the fact that Citigroup agreed last week to pay a $285 million fine to settle SEC charges for “misleading investors” demonstrates a damning admission of culpability? So why has Robert Rubin, the onetime treasury secretary who went on to become Citigroup chairman during the time of the corporation’s financial shenanigans, never been held accountable for this and other deep damage done to the U.S. economy on his watch?”

Rubin’s tenure atop the world of high fi­nance began when he was co-chair­man of Gold­man Sachs, be­fore he be­came Bill Clin­ton’s trea­sury sec­re­tary and pushed through the re­ver­sal of the Glass-Stea­gall Act, an ac­tion that le­gal­ized the for­ma­tion of Cit­i­group and other “too big to fail” bank­ing con­glom­er­ates.

Rubin’s de­struc­tive im­pact on the econ­omy in en­abling these giant cor­po­rate banks to run amok was far greater than that of swindler Bernard Mad­off, who sits in prison under a 150-year sen­tence while Rubin sits on the Har­vard Board of Over­seers, as chair­man of the Coun­cil on For­eign Re­la­tions and as a leader of the Brook­ings In­sti­tu­tion’s Hamil­ton Pro­ject.

Rubin was re­warded for his ef­forts on be­half of Cit­i­group with a top job as chair­man of the bank’s ex­ec­u­tive com­mit­tee and at least $126 mil­lion in com­pen­sa­tion. That was “com­pen­sa­tion” for steer­ing the bank to the point of a bank­ruptcy avoided only by a $45 bil­lion tax­payer bailout and a fur­ther guar­an­tee of $300 bil­lion of the bank’s toxic as­sets.

"
http://www.nationofchange.org/too-big-jail-1320412438

for starters, see:

epgtlo: Citigroup comment on PEMEX....

Jul 27, 2009 ... Citigroup and Harbinger are creditors in Asarco's pending bankruptcy proceeding. They are based in New York and together are owed $300 ...

epgtlo.blogspot.com/2009/07/citigroup-comment-on-pemex.html

epgtlo: ASARCO former principle-bondholder Citigroup now ordered ...

Jul 30, 2010 ... Citigroup has agreed to pay the SEC $75 million to settle charges that the bank hid exposure to more than $40 billion [1] in subprime CDOs. ...

epgtlo.blogspot.com/2010/.../asarco-former-principle-bondholder.html

clipped from Google - 11/2011

epgtlo: Citigroup Bank is a "Key Financial" entity for the Camino ... Sep 17, 2009 ... Citigroup Bank is a "Key Financial Team member" for the Camino Real Regional Mobility Authority (CRRMA) that builds El Paso TX highways ... epgtlo.blogspot.com/.../citigroup-bank-is-key-financial-entity.html

clipped from Google - 11/2011

epgtlo: ASARCO Bondholder Citigroup's head of Latin America team ... Aug 4, 2010 ... ASARCO Bondholder Citigroup's head of Latin America team handled CEMEX acquisition of RMC and a 1.1 Billion$ offer for Grupo Mexico S.Peru ... epgtlo.blogspot.com/.../asarco-bondholder-citigroups-head-of.html

clipped from Google - 11/2011

epgtlo: HARBINGER'S CITIGROUP RECOMMENDS INVESTING IN PEMEX now Jul 30, 2009 ... Banking giant Citigroup recommends investment in Mexican state-run oil company Petroleos Mexicanos (Pemex) via its dollar-denominated bonds. ... epgtlo.blogspot.com/2009/.../harbingers-citigroup-recommends.html

clipped from Google - 11/2011

epgtlo: Bank associated with ASARCO bonds (Citigroup) Energy ... Aug 27, 2009 ... Citigroup's Oil Trader's $100000000 Payday: A Wakeup Call for the Nation ... Google "Citigroup" in search engine for epgtlo.blogspot.com and ... epgtlo.blogspot.com/2009/.../bank-associated-with-asarco-bonds.html

clipped from Google - 11/2011

epgtlo: 7/25/10 - 8/1/10 Jul 30, 2010 ... ASARCO former principle-bondholder Citigroup now ordered to pay SEC over ... " Citigroup to Pay $1 for Every $500 in Subprime Exposure It Hid ... epgtlo.blogspot.com/2010_07_25_archive.html

clipped from Google - 11/2011

epgtlo: 2010 Sept. 8: Government argues that 75 mil settlement ... Sep 9, 2010 ... 8: Government argues that 75 mil settlement with former Asarco principal bondholder Citigroup is"fair, adequate, reasonable and in the ... epgtlo.blogspot.com/.../2010-sept-8-government-argues-that-75.html

clipped from Google - 11/2011

epgtlo: 8/1/10 - 8/8/10 Aug 4, 2010 ... ASARCO Bondholder Citigroup's head of Latin America team handled CEMEX ... "John Boord heads Citigroup Global Markets' Latin America ... epgtlo.blogspot.com/2010_08_01_archive.html

Now that Asarco's secret liabilities are behind it, Owner Grupo Mexico says that "Asarco's results were promising".

Now that Asarco's secret liabilities are behind it, Owner Grupo Mexico says that "Asarco's results were promising".  What about the children remaining behind its Asarco El Paso smelter site, and its community that must socialize the costs remaining from the toxins left behind?   The Company profits go to the owners while the costs of polluting a 30-mile-radius zone in a key NAFTA industrialized-zone have been socialized to an unprepared and unknowing community.  Grupo Mexico plans (below) to spend nearly 1/2 billion dollars on Asarco in the next three years but got away with only spending 52 million to "remediate" its century-old site in El Paso TX.   The clean-up TRUST is not required to remediate ANY of the illegal wastes processed there from 1991-1998 and not required to remediate the deep ground-water beneath that old site (a highly toxic arsenic plume moving in a wide swath -- with some of that groundwater plume already reaching the Rio Grand the width of the company's site according to the TCEQ.)

"...Grupo Mexico said that Americas Mining the holding company of the mining division that includes Southern Copper and Asarco could list separate securities in capital markets. It did not give details about what kinds of securities AMC could offer, noting this is one of the strategic alternatives AMC is considering.

Banamex said that floating AMC shares would allow Grupo Mexico to raise capital. ....Mr Muniz [CFO of Grupo Mexico] said that Asarco's results were promising and that the mines in Arizona would be able to increase copper output to 280,000 tonnes by 2016...."

http://www.steelguru.com/metals_news/Grupo_Mexico_scraps_plan_for_mining_unit_merger/233777.html