Investigation revealed that Citigroup lobbyists drafted a House bill aimed at rolling back Dodd-Frank financial regulations, with 70 of the 85 lines in the final House legislation directly reflecting Citigroup’s recommendations. Two complete paragraphs were copied almost word-for-word from …
Robert Rubin joins Citigroup just four months after leaving his position as Treasury Secretary, shortly after the November 1999 passage of the Gramm-Leach-Bliley Act that repealed Glass-Steagall. Rubin’s move to Citigroup - the principal beneficiary of Glass-Steagall repeal - represents one of …
Robert RubinCitigroupSandy WeillGoldman SachsTreasury Departmentrevolving-doorcitigroupglass-steagallcorruptionregulatory-capture+2 more
In September 1998, the Federal Reserve Board granted Citicorp a temporary waiver allowing its merger with Travelers Group, effectively circumventing the Glass-Steagall Act and Bank Holding Company Act. This strategic regulatory maneuver created Citigroup, the first ‘universal bank’ since …
Federal ReserveAlan GreenspanCiticorpTravelers GroupSandy Weill+4 morefederal-reservecitigroupglass-steagall-violationregulatory-waiversystemic-corruption+3 more