Elizabeth Warren worries about Citigroup’s many government ties

By Muckety

April 30, 2014 at 12:53pm

In a column published by Politico, Sen. Elizabeth Warren expresses her “growing frustration over the concentration of people with ties to the megabank Citigroup in senior government positions.”

The comments come after her reluctant Senate Banking Committee vote supporting Stanley Fischer as vice chairman of the Federal Reserve.

Fischer is one of many former Citigroup execs to be nominated and/or serve in top federal jobs.

The trend, as illustrated by the interactive Muckety map above, didn’t begin with the Obama administration.

As Warren points out: “Three of the last four Treasury secretaries under Democratic presidents have had Citigroup affiliations before or after their Treasury service.”

That would be current Secretary Jacob Lew and former Secretaries Larry Summers and Robert Rubin, who served under Bill Clinton.

While Obama didn’t start the trend, he certainly is investing in it heavily. As our map shows, Treasury Assistant Secretary Marisa Lago and U.S. Trade Representative Michael Froman both have ties to Citigroup.

Nathan Sheets, nominated by Obama in February to be Treasury under secretary, is a Citigroup economist.

As Warren writes: “No one doubts that there are smart, hard-working people at Citigroup and elsewhere in the financial industry…But there is danger anytime the key economic positions in our government fall under the control of a single tight-knit group.”

Follow Muckety on Twitter Tweet This! Share on Facebook

Click here to sign up for the Muckety Newsletter

 Read related stories: Muck tracker  


  • #1.   John Smith 05.01.2014

    …”But there is danger anytime the key economic positions in our government fall under the control of a single tight-knit group.”

    …makes me wonder if there is so much danger, why didn’t this tight-knit group make sure Citi passed the stress test?

Leave a Comment

The relationship map to the left is interactive.
• Solid lines are current relations. Dotted lines are former relations.
• Expand items with + signs by double-clicking or by selecting multiple items in the map and pressing the "e" key.
• Move an item in the map by clicking and dragging.
• You can also delete items, separate boxes and save maps. Right-click on the map or select Map Tools for these options.
• Find out more about an item in the map by right-clicking on the item and choosing Information about...
• View map color key.
• This interactive map requires Flash player.

Become a fan of Muckety on Facebook

  • Search for stories
    Special Features

Follow Muckety on Twitter Follow Muckety on Twitter
Muckety has no direct connection to most of the people or organizations listed on these pages.
We are unable to forward personal messages or provide personal contact information.
We make every effort at Muckety to ensure that our data is correct and timely. However, relationships are in constant flux and we cannot guarantee accuracy. If you come across incorrect or outdated information, please let us know by email.
© 2017 Muckety LLC