The alarming, untold story of Citigroup—one of the largest financial institutions in the world—from its founding in 1812 to its role in the 2008 financial crisis, and the many near-death experiences in between. During the 2008 financial crisis, we were told that Citi was a victim of events beyond its control—the larger financial panic, unforeseen economic disruptions and a… More »
Author Bio and Details
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.