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Citigroup Pays for a Rush to Risk
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Former Treasury Secretary Robert Rubin's role along with CEO Prince at Citigroup in relaxing strict oversight and risk controls to pursue riskier investments and increase profits at Citigroup. This led to the $65 billion in losses on mortgage related investments that caused its share price to collapse to $3.77 by November 21, 2008. About 75,000 jobs are already lost from 375,000 worldwide and Citi is in talks with government officials in emergency meetings this weekend before the markets open on Monday November 24, 2008. This time Citi is in crisis mode and a lot can happen in the coming days.
Former U.S. Treasury Secretary Robert Rubin
11/23/2008
Grouped Articles
New York Times 01/13/2009
Citigroup Pays for a Rush to Risk
New York Times 11/23/2008
Rubin, Under Fire, Defends His Role at Citi
Wall Street Journal 11/29/2008
Wall Street Journal 11/25/2008
Trump Plans to Name Steven Mnuchin as Treasury Secretary
WSJ 11/29/2016
Questions America asks it financial leaders in the light of the cratering going on in the world of finance and ordinary American's retirement savings.
01/28/2008
As a large part of 401 K's disappear and retirement savings are hurt badly Americans are asking questions of public servants and leaders in finance.
Grouped Articles
Chuck Schwab Is Worried About Small Investors. Should We Worry Too?
BusinessWeek 05/27/2010
Paulson’s Deal-Making Revives Treasury’s Relevance
New York Times 01/28/2008
Paulson Drove Plan to Shore Up Fannie Mae, Freddie Mac
Wall Street Journal 07/15/2008
Taking Hard New Look at a Greenspan Legacy
New York Times 10/09/2008
The Guys From ‘Government Sachs’
New York Times 10/19/2008
No More Economic False Choices
New York Times 11/03/2008
The Citigroup Rescue in November 2008.
11/13/2008
A Morgan Stanley type bear raid by short sellers on Citigroup shares with 50% of share value lost in a few days. Pandit of Citi desperately asks for reinstatement of the uptick rule to prevent short seller raids.
Grouped Articles
Citigroup Hits 'Penny Stock' Realm
Wall Street Journal 03/06/2009
U.S. Settles Mortgage Inquiry for $7 Billion
New York Times 07/14/2014
Old Lane Managers Look for Exit From Citi
Wall Street Journal 12/24/2008
Citi Directors Mull Replacing Chairman
Wall Street Journal 11/13/2008
Worst May Be Yet to Come for Citigroup
New York Times 11/14/2008
New York Times 11/16/2008
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