Download Borrowed Time Two Centuries of Booms Busts and Bailouts at Citi James Freeman Vern McKinley 9780062669872 Books
Download As PDF : Borrowed Time Two Centuries of Booms Busts and Bailouts at Citi James Freeman Vern McKinley 9780062669872 Books
The alarming, untold story of Citigroup—one of the largest financial institutions in the world—from its founding in 1812 to its role in the 2008 financial crisis, and the many near-death experiences in between.
During the 2008 financial crisis, we were told that Citi was a victim of events beyond its control—the larger financial panic, unforeseen economic disruptions and a perfect storm of credit expansion and private greed. 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 Wall Street Journal writer James Freeman and financial expert 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 disturbing history of instability and government support. It’s a story that neither Citi nor Washington wants told.
Citi has long been tied to the federal government in a relationship that has benefited both. From its earliest years, its well-connected leadership—most of its initial stockholders had owned stock in the Bank of the United States—took massive risks that led to crisis. But thanks to a rescue by private investors, including John Jacob Astor, the bank survived throughout the nineteenth century.
This is just the tip of the iceberg. The scale of the financial panic of 2008 was hardly unprecedented. As Borrowed Time shows, crisis and outright disasters have been surprisingly common during the century of government-protected banking—especially at Citi.
Download Borrowed Time Two Centuries of Booms Busts and Bailouts at Citi James Freeman Vern McKinley 9780062669872 Books
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Borrowed Time Two Centuries of Booms, Busts, and Bailouts at Citi [James Freeman, Vern McKinley] on . strongThe alarming, untold story of Citigroup—one of the largest financial institutions in the world—from its founding in 1812 to its role in the 2008 financial crisis James Freeman, Vern McKinley,Borrowed Time Two Centuries of Booms, Busts, and Bailouts at Citi,Harper Business,0062669877,Banks Banking,Corporate Business History,Bailouts (Government policy) - United States,Bailouts (Government policy);United States.,Bank failures - United States - Prevention,Bank failures;United States;Prevention.,Banks and banking - United States,Banks and banking;United States.,Citigroup (Firm),Financial crises - United States,BANKS AND BANKING,BUSINESS ECONOMICS / Banks Banking,BUSINESS ECONOMICS / Corporate Business History,BUSINESS ECONOMICS / Economic History,Business Economics,Business Economics/Banks Banking,Business Economics/Economic History,Business/Economics,GENERAL,General Adult,HISTORY OF SPECIFIC COMPANIES,History,Non-Fiction,United States,business; personal finance; too big to fail; financial crisis; recession; government bailouts; banking crisis; u.s. treasury secretary; the fed; federal reserve bank; senator carter glass; glass-steagall repeal; robert rubin; citi; citigroup; citibank; travelers group; traveler's group; sub-prime lending; mortgage risk; housing crisis; executive compensation,stocking stuffer;christmas;holiday;gift;hanukkah;chanukah;white elephant gift;perfect gift for anyone;what to buy;feel good;coffee table;books about;activity book;joke;facts;riddle;challenge;coloring book;drawing book;learn;awesome;toy;why;laugh;how to;journal;funny;humor;information;answers;questions;ideas;experiments;handbook;guidebook;business/personal finance;too big to fail;financial crisis;recession;government bailouts;banking crisis;u.s. treasury secretary;the fed;federal reserve bank;senator carter glass;glass-steagall repeal;robert rubin;citi;citigroup;citibank;travelers group;traveler's group;sub-prime lending;mortgage risk;housing crisis;executive compensation;2017;2018;2019
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