Is citigroup. The mortgage meltdown blamed for whats been known as the great recession. Rebecca cooper is live in the newsroom with what we learned about todays settlement. The settlement today still no executives have gone to jail, but the announcement was intended to send the signal that the Justice Department is still punishing and investigating bad behavior by banks that cost many homeowners their homes and the World Economy to crash. They admit they issued mortgages they knew people couldnt pay. They said that the subprime mortgages contributed to the Housing Market collapse in 2008 and the global recession that followed. The banks misconduct was egregious. Under the terms of the settlement, citigroup admits to wrong doing and pays 7 billion. 4 billion will be paid in penalties to the Justice Department. 2. 5 billion will give relief to homeowners and an additional 5 million to states attorneys generalses and the fdic. Just behind bank of america and j. P. Morgan chase. The 7 bill
With state authorities announced a number of safety improvements being made to route 1. Tonight the mother of a young man killed on that road is speaking out. Suzanne kennedy has a look at the changes being made. When students return in august they will notice a new look at this familiar corner, the state is making significant improvements in an effort to keep pedestrians safer. An amazing person. Its been three months since julieta machattos son was killed on route 1 in college park. The roadway has seen three fatalities this year. The pattern and frequency of accidents. Its not okay. Starting at the end of the month the speed limit on route 1 in college park will drop from 30 to 25 Miles Per Hour. A fence like this one will be erected between knox and hartwick roads. With the improvements comes advice from the state highway authority. Use marked cross walks and follow the pedestrian signal indications. Designate a responsible friend to remain sober and make sure everyone gets to thei