Warren: Sack 'em all!

by Leigh Graham · 2009-04-06 12:00:00 UTC
Topics:

H/t to Susie from Philly:

Elizabeth Warren, chief watchdog of America's $700bn (£472bn) bank bailout plan, will this week call for the removal of top executives from Citigroup, AIG and other institutions that have received government funds in a damning report that will question the administration's approach to saving the financial system from collapse.

Mindful of how embarrassing it is to be publicly chastised by a colleague, no less a woman colleague in the manly world of finance and banking, Warren:

...said she did not want to be too hard on Geithner but that he must address the issues in the report. "The very notion that anyone would infuse money into a financially troubled entity without demanding changes in management is preposterous."

Will this report have any impact?  I suppose if we harp on it endlessly.  Otherwise, we're going to see more and more like this. (No, really, click on it.  Your blood pressure hasn't risen enough today, I just know it.)

(Photo of Citigroup scrap by eflon)

Leigh Graham
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