Citi's Troubling History of Instability

Midday on WNYC | Aug 13, 2018

Assistant editor of the Wall Street Journal editorial page James Freeman discusses the book he co-authored with Vern McKinley, Borrowed Time: Two Centuries of Booms, Busts, and Bailouts at Citi. The book reveals how Citi’s bailout from the 2008 financial crisis was hardly unprecedented. Rather, Citi has a disturbing history of instability and government support and has long been tied to the federal government in a mutually beneficial relationship. From its earliest years, Citi’s well-connected leadership took massive risks that led to the crisis.

This segment is guest hosted by Matt Katz.

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