Borrowed Time by James Freeman

During the 2008 financial crisis, Citi was often portrayed as a victim of larger uncontrollable events, including a widespread panic, economic disruptions, and a perfect storm of credit expansion, private greed, and public incompetence. To prevent the bank from collapsing and to stabilize the economy, the government provided significant cash infusions through multiple bailouts, which caused frustration and anger among the American public. However, as financial experts James Freeman and Vern McKinley uncover, the 2008 crisis was just one of many disasters that Citi has faced in its more than 200 years of existence. In their book, Borrowed Time, they delve into Citi's history of instability and reliance on government support. This is not a story that either Citi or the government wants to be told. Since its establishment in 1812, the bank has been closely intertwined with the federal government, resulting in mutual benefits. This relationship enabled Citi to take on significant risks that often led to crisis. Nevertheless,