Miss Cleo’s psychic hot line agreed Thursday to cancel $500 million in customer bills. Read the CNN.com story.
There’s irony in this quote: “The amount involved eclipses the record $215 million that Citigroup Inc. agreed to repay customers in September to settle deceptive lending charges involving mortgages and credit insurance.”
Perhaps Wall Street insiders and brokers will be next to be forced to give up their ill-gotten gains. We doubt that these ne’er-do-wells will ever be forced return the money defrauded from mom and pop investors by an industry-wide practice of laddering and insider trading.
Perhaps Miss Cleo knows what will come of that.