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Citigroup to buy back $7 billion of auction-rate debt (Reuters)

New York Attorney General Andrew Cuomo speaks during a news conference in New York August 7, 2008. Cuomo and the U.S. Securities and Exchange Commission announced that Citigroup agreed to buy back more than $7 billion of illiquid auction-rate securities and pay a $100 million civil fine to settle charges it marketed the debt fraudulently. (Shannon Stapleton/Reuters)Reuters - Citigroup Inc agreed to buy back
more than $7 billion of illiquid auction-rate securities and
pay a $100 million civil fine to settle charges it marketed the
debt fraudulently.

Original post by Reuters

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