Borrowed Time: Two Centuries of Booms, Busts, and Bailouts at Citi

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Review ------ “This book convincingly shows—through fascinating investigative reporting of 200 years of history—how connections between government and Citi grew closer over time and became the ultimate cause of bailouts, detested by so many Americans, and even of the market conditions that led to the financial crisis.” (John Taylor, Mary and Robert Raymond Professor of Economics, Stanford University) “At the next banking crisis, Citi likely will be there, once again. Borrowed Time explains why.” (Bartly Dzivi, Special Counsel, Financial Crisis Inquiry Commission) “If you think the 200-year history of an American bank sounds dry, think again. Borrowed Time is a highly entertaining and informative run through a long list of the crises faced by Citibank.” (The Financial Times) Read more ( javascript:void(0) ) About the Author ---------------- James Freeman has been the Wall Street Journal’s principal writer of unsigned editorials on Wall Street banking and regulation since the crisis of 2008. Under his own byline, he has published extended interviews with many of the most consequential people in finance, from the founder of the world’s largest hedge fund to the lead software developer of the Bitcoin project. He is a Fox News contributor and frequently appears on the Fox Business Network. He has also appeared on CNN, CNBC and MSNBC. Vern McKinley’s clients include the U.S. Treasury, International Monetary Fund, and KfW (German Development Bank). He has advised governments in over 30 countries, many of which were experiencing financial crises at the time. Prior to his consulting career he worked for the Board of Governors of the Federal Reserve, the Federal Deposit Insurance Corporation (FDIC), the Resolution Trust Corporation and the Department of the Treasury’s Office of Thrift Supervision. His career started with the FDIC in the midst of the banking crisis in Texas during the 1980s. McKinley is credited with correctly predicting in 1997 that the structure of Fannie Mae and Freddie Mac would one day lead to the meltdown of the two institutions. All opinions are his own. Read more ( javascript:void(0) )