Citigroup Quotes (2)

Who do they think they are? Other people, firms, cannot act like this . . . Citicorp and Travelers were so big that they were able to pull this off. They were able to pull off the largest financial conglomeration—the largest financial coming together of banking, insurance, and securities—when legislation was still on the books saying this was illegal. And they pulled this off with the blessings of the president of the United States, President Clinton; the chairman of the Federal Reserve system, Alan Greenspan; and the secretary of the treasury, Robert Rubin. And then, when it's all over, what happens? The secretary of the treasury becomes the vice chairman of the emerging Citigroup.

— Kenneth Guenther; quoted by Robert Kiyosaki

Senator Phil Gramm, in 1997 and 1998, helped repeal the Glass-Steagall Act, an act that was written during the last depression to prevent savings banks from mixing savings and investments. Once the Glass-Steagall Act was gone, the bank heist took on epic proportions. It is interesting to note that Senator Gramm, the chairman of the Senate Banking Committee, collected $2.6 million in campaign contributions from the banking, brokerage, and insurance industries. Fed Chairman Greenspan, President Clinton, and his Treasury Secretaries Robert Rubin, Larry Summers, and Geithner (today's treasury secretary), were all part of repealing the Glass-Steagall Act, which led to the formation of Citigroup. Coincidentally, Rubin immediately left the White House to become the head of that newly formed company.

— Robert Kiyosaki; Rich Dad's Conspiracy of The Rich