A Sign That Obama Will Repeat Economic MistakesBy Robert Scheer (about the author) Permalink (OpEdNews Op Eds 12/7/2012 at 10:54:41 |
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Related Topic(s): Banking; Citigroup;
Cross-posted from Truthdig
AP/Mark Lennihan
Please don't tell me that these reports in the business press touting Sallie Krawcheck as a front-runner for chairman of the SEC or even a possible candidate to be the next Treasury secretary are true. Who is she? Oh, just another former Citigroup CFO, and therefore a prime participant in the great banking hustle that has savaged the world's economy. Krawcheck was paid $11 million in 2005 while her bank contributed to the toxic mortgage crisis that would cost millions their jobs and homes.
Not that you would know that sordid history from reading the recent glowing references to Krawcheck in the New York Times, the Wall Street Journal and Bloomberg News that stress her pioneering role as a leading female banker -- a working mother no less -- but manage to avoid her role in a bank that led the way in destroying the lives of so many women, men and their children. Nor did her financial finagling end with Citigroup, as Krawcheck added a troubling stint in the leadership at Merrill Lynch and Bank of America to her resume.
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