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))
For Related News, Double Click on one of these codes:[E] [D] [T] [U] [NAW] [PSC] [RNP] [DNP] [PCO] [PCU] [PTD] [DFIN] [BNK] [FIN] [US] [WASH] [REGS] [POL] [FINS] [GEN] [PIL] [BACT] [LEN] [RTRS] [C.N]
 For Relevant Price Information, Double Click on one of these codes:<C.N>
 Friday, 04 September 2009 10:52:13RTRS [nBNG411399] {EN}ENDS

No comments so far

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/