2015-02-13 US: Citigroup - new questions regarding a bank that is perceived as a danger for the US economy
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US Senator Elizabeth Warren has recently called for breaking up Citi, since it has gained so much power that it appears to be able to buy both the White House and the US Congress, and poses a great danger to the US economy.
In 2006, the bank's capital was valued at $277 billion, but in 2009 at only $6 billion. It was saved from collapse through major infusion of US taxpayer bailout funds.
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US Senator Elizabeth Warren has recently called for breaking up Citi, since it has gained so much power that it appears to be able to buy both the White House and the US Congress, and poses a great danger to the US economy.
In 2006, the bank's capital was valued at $277 billion, but in 2009 at only $6 billion. It was saved from collapse through major infusion of US taxpayer bailout funds.
Citigroup is resisting efforts to disclose fully the structure of relevant compensation contracts.
TRUTH-OUT.ORG|BY SIMON JOHNSON
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