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Summary Box: Citigroup buying back $7B in debt

BIG SETTLEMENTS — Citigroup Inc. will buy back more than $7 billion in auction-rate securities from thousands of investors nationwide and pay $100 million in fines. WHY? — State and federal regulators say Citigroup marketed the securities as highly liquid investments, but failed to provide supporting bids for the auctions it managed. Demand flagged in February and the market collapsed. WHAT'S NEXT? — Regulators are investigating the marketing of auction-rate securities by a number of... [read full story]                    

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