U.S. federal and state authorities extracted a hefty payment from Citigroup Inc. on Monday, securing $7 billion to settle claims stemming from the bank’s role issuing residential mortgage-backed securities and collateralized debt obligations in 2006 and 2007. In a statement, Attorney General Eric Holder said: “This historic penalty is appropriate given the strength of the evidence of the wrongdoing committed by Citi.”

What evidence, you ask?

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