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Author: United States. Congressional Oversight Panel
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 124
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Book Description
Author: United States. Congressional Oversight Panel
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 124
Get Book Here
Book Description
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 124
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Book Description
Author: James Freeman
Publisher: HarperCollins
ISBN: 0062669885
Category : Business & Economics
Languages : en
Pages : 226
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Book Description
The disturbing, untold story of one of the largest financial institutions in the world, Citigroup—one of the " too big to fail" banks—from its founding in 1812 to its role in the 2008 financial crisis, and the many disasters in between. During the 2008 financial crisis, Citi was presented as the victim of events beyond its control—the larger financial panic, unforeseen economic disruptions, and a perfect storm of credit expansion, private greed, and public incompetence. To save the economy and keep the bank afloat, the government provided huge infusions of cash through multiple bailouts that frustrated and angered the American public. But, as financial experts James Freeman and Vern McKinley reveal, the 2008 crisis was just one of many disasters Citi has experienced since its founding more than two hundred years ago. In Borrowed Time, they reveal Citi’s history of instability and government support. It’s not a story that either Citi or Washington wants told. From its founding in 1812 and through much of its history the bank has been tied to the federal government—a relationship that has benefited both. Many of its initial stockholders had owned stock in the Bank of the United States, and its first president, Samuel Osgood, had been a member of the Continental Congress and America’s first Postmaster General. From its earliest years, Citi took massive risks that led to crisis. But thanks to private investors, including John Jacob Astor, they survived throughout the nineteenth century. In the twentieth century, Senator Carter Glass blamed Citi CEO "Sunshine Charlie" Mitchell for the 1929 stock market crash, and the bank was actually in violation of the senator’s signature achievement, the Glass-Steagall law, in the late 1990s until then U.S. Treasury Secretary Robert Rubin engineered the law’s repeal. Rubin later became the chairman of the executive committee of Citigroup, helping to oversee the bank as it ramped up its increasing mortgage risks before the 2008 crash. The scale of the financial panic of 2008 was not, as the media and experts claim, unprecedented. As Borrowed Time shows, disasters have been relatively frequent during the century of government-protected banking—especially at Citi.
Author: Neil Barofsky
Publisher: Simon and Schuster
ISBN: 1451684959
Category : Biography & Autobiography
Languages : en
Pages : 295
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Book Description
Includes a new foreword to the paperback edition.
Author: Federal Deposit Insurance Corporation
Publisher:
ISBN: 9780966180817
Category :
Languages : en
Pages :
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Book Description
Crisis and Response: An FDIC History, 2008¿2013 reviews the experience of the FDIC during a period in which the agency was confronted with two interconnected and overlapping crises¿first, the financial crisis in 2008 and 2009, and second, a banking crisis that began in 2008 and continued until 2013. The history examines the FDIC¿s response, contributes to an understanding of what occurred, and shares lessons from the agency¿s experience.
Author:
Publisher: DIANE Publishing
ISBN: 1437942784
Category :
Languages : en
Pages : 151
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Book Description
Author: Orice Williams Brown
Publisher: DIANE Publishing
ISBN: 1437926959
Category : Business & Economics
Languages : en
Pages : 24
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Book Description
The recent financial crisis resulted in a wide-ranging fed. response that included infusing capital into several major corp. TARP has been the primary vehicle for most of these actions. The gov¿t. is a shareholder in AIG, Citigroup, Chrysler, and GM, among others. As market conditions have become less volatile, the gov¿t. has been considering how best to manage these investments and ultimately divest them. This testimony discusses: (1) the gov¿t¿s. approach to past crisis and challenges unique to the current crisis; (2) the principles guiding the Treasury¿s implementation of its authorities and mechanisms for managing its investments; and (3) preliminary views on the fed. government¿s monitoring and management of its investments.
Author: Gene L. Dodaro
Publisher: DIANE Publishing
ISBN: 1437913008
Category : Business & Economics
Languages : en
Pages : 112
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Book Description
This is the second report on the Troubled Asset Relief Program (TARP). It follows up on the nine recommendations from a December 2, 2008, report. It also reviews: (1) the nature and purpose of activities that had been initiated under TARP as of January 23, 2009; (2) Treasury's Office of Financial Stability (OFS) hiring and transition efforts, use of contractors, and progress in developing a system of internal control; and (3) preliminary indicators of TARP's performance. To do this work, the auditor reviewed signed agreements and other relevant documentation and met with officials from OFS, contractors, federal agencies, and some participating institutions. Charts and tables.
Author: Etats-Unis. Office of the special inspector general for the troubled asset relief program
Publisher: U.S. Independent Agencies and Commissions
ISBN: 9780160825330
Category : Business & Economics
Languages : en
Pages : 192
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Book Description
Provides a ready reference on what TARP is and how it has been used, at least for the first $350 billion authorized as of January 23, 2009. The goal is to advance economic stability through transparency, coordinated oversight, and robust enforcement.
Author: Neil Barofsky
Publisher: DIANE Publishing
ISBN: 1437942016
Category : Business & Economics
Languages : en
Pages : 338
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Book Description
