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In their new book, “Borrowed Time: Two Centuries of Booms, Busts, and Bailouts at Citi” (HarperBusiness, 2018), James Freeman and Vern McKinley recount Citibank’s colorful history. Since its beginning in 1812, the bank has been led by men of outsize influence, in both banking and politics. From providing US presidents with secretaries of the Treasury to helping draft the Federal Reserve Act, it has pushed the frontiers in banking and sown the seeds for financial turmoil. But the history of Citibank also includes repeated government rescues: in the 1930s from the fallout from its securities dealings, in the 1980s from disastrous exposures to Latin American and other countries that “could not go bankrupt” but did, and most recently, from the subprime financial crisis, when Citi had multiple near-death experiences. Join AEI as James Freeman discusses the history of Citibank, followed by commentary from an expert panel including Alex Pollock, Bert Ely, and Paul Kupiec. Watch other videos about "Topic" Subscribe to AEI's YouTube Channel https://www.youtube.com/user/AEIVideo... Like us on Facebook / aeionline Follow us on Twitter / aei For more information http://www.aei.org Third-party photos, graphics, and video clips in this video may have been cropped or reframed. Music in this video may have been recut from its original arrangement and timing. In the event this video uses Creative Commons assets: If not noted in the description, titles for Creative Commons assets used in this video can be found at the link provided after each asset. The use of third-party photos, graphics, video clips, and/or music in this video does not constitute an endorsement from the artists and producers licensing those materials. AEI operates independently of any political party and does not take institutional positions on any issues. AEI scholars, fellows, and their guests frequently take positions on policy and other issues. When they do, they speak for themselves and not for AEI or its trustees or other scholars or employees. More information on AEI research integrity can be found here: http://www.aei.org/about/ #aei #news #politics #government #education #livestream #live #citibank #bailouts #banking #bankruptcy