Please don't tell me about advocating change for the future. What I'd like to know is what are you doing to manage the risks that are in front of Citi and facing the American people, right now?
Elizabeth Warren
The Public Record
Elizabeth Ann Warren is an American attorney, academic, and politician serving as the senior United States senator from Massachusetts since 2013. A member of the Democratic Party, she has been a prominent advocate for consumer protection, economic equality, and corporate regulation. Warren gained national recognition for her work in establishing the Consumer Financial Protection Bureau and has focused on issues such as student debt relief and healthcare reform during her tenure in the Senate.
But of the original nine that needed money within weeks of the original TARP infusion--you got $25 billion, someone said you--the Secretary of the Treasury said you were financially healthy, and within weeks you needed another $20 billion…
We don't want to be a shareholder in that company and we think that companies are far stronger if they're public--if they're financed out of the public, rather than the government.
But it's your view that Citi isn't getting that from its higher rating, it's not getting that benefit of being A rated?
But Standard & Poor's, the rating agency, is giving you a bump. The bump is valuable.
You wiped out all of its equity, you caused its debt to have to take a haircut, and that's what helped put it back on firm footing.
The difference is, that you're trying to capitalize what is now a much stronger company.
I'm not commenting on what the prior Administration did, I'm just observing what they did.





