'The two banks that were clearly insolvent were Citigroup and Merrill.'
Sheila Bair PBS Newshour interview.
This portion was not broadcast, and is perhaps the better of the 2 clips.
Here's what we've learned so far from Bair's book:
- John Thain's only concern was getting paid.
- Robert Rubin was secretly in charge of TARP.
- Citigroup and Merrill were both insolvent.
- Bair wanted Volcker for Treasury Secretary.
- Geithner really loves Citigroup.
- Blankfein wasn't playing team ball until Bair called Buffet to complain.