Friday, September 16, 2011

Geithner Said to Ignore Obama Wind Down Order on Citi

http://www.bloomberg.com/news/2011-09-16/geithner-ignored-obama-s-2009-order-on-citigroup-wind-down-plan-book-says.html

Geithner didn’t proceed with Obama’s order to develop a plan to dissolve New York-based Citigroup in March 2009, several months after the bank had received a $45 billion taxpayer bailout, according to “Confidence Men: Wall Street, Washington and the Education of a President” by Ron Suskind, a former Wall Street Journal reporter. Bloomberg News obtained a copy of the book’s manuscript. The book, published by New York-based HarperCollins, is to be released Sept. 20.

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