The Fed’s Special Cookie Jar

The Fed’s Special Cookie Jar

In spring 2009, a bank examiner inside the Federal Reserve Bank of New York called colleagues with worrisome news: Yet another crisis was brewing for Citigroup, the global banking giant that despite taking more than $476 billion in bailout cash and guarantees, the most of any rescued bank, was near collapse. That financially tumultuous spring, Citigroup…




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