Financial Regulatory Forum

TARP head says U.S. lacks Citi exit strategy-paper

September 4, 2009

USA/    Sept 4 (Reuters) – U.S. regulators lack transparency and a clear exit strategy in their handling of Citigroup Inc’s <C.N> rescue, Elizabeth Warren, chairwoman of the Congressional Oversight Panel for the Troubled Asset Relief Program (TARP), told the New York Post in an interview.
   “Too big to fail and not strong enough to succeed is obviously no exit strategy at all,”  the paper quoted Warren as saying.
   Citigroup received $45 billion of bailout money under TARP and the U.S. government now owns a 34 percent stake in the company. (Reporting by Ajay Kamalakaran in Bangalore; Editing by David Holmes) ((ajay.kamalakaran@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800 +1 646 897 1898; Reuters Messaging: ajay.kamalakaran.reuters.com@reuters.net))
 Keywords: CITIGROUP/REGULATORS
  
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 Friday, 04 September 2009 10:52:13RTRS [nBNG411399] {EN}ENDS

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