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'Demand Accountability' from Citi: Podesta

Transition boss discusses bailout, Cabinet

By Matt Cantor,  Newser Staff

Posted Nov 28, 2008 10:32 AM CST
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(Newser) – The government should “demand accountability” from Citigroup in return for bailout funding, Barack Obama’s transition team leader says. “If we’re going to have one rule, we ought to apply it to all of the financial institutions that we’re taking a look at,” John Podesta said in a Bloomberg interview. Lawmakers asked automakers for a plan and management changes before giving them money—a request they didn’t make of Citigroup.

Podesta said Obama would have “virtually the whole Cabinet” ready by Christmas, and that the administration would include “multiple Republicans" who will be "spread throughout the administration.” He also defended attorney general candidate Eric Holder, calling his support for Bill Clinton's pardon of fugitive financier Marc Rich—which Podesta opposed—a "mistake.”

John Podesta, left, stands with ex-Secretary of State Madeleine Albright before the start of a climate conference March 7, 2008.
John Podesta, left, stands with ex-Secretary of State Madeleine Albright before the start of a climate conference March 7, 2008.   (AP Photo/Jens Dige)
A customer exits a Citibank branch at 40th St. and Broadway in New York Tuesday, Nov. 25, 2008.
A customer exits a Citibank branch at 40th St. and Broadway in New York Tuesday, Nov. 25, 2008.   (AP Photo/Craig Ruttle)
In this June 27, 2007 file photo, John Podesta speaks at the National Press Club in Washington.
In this June 27, 2007 file photo, John Podesta speaks at the National Press Club in Washington.   (AP Photo/Pablo Martinez Monsivais, File)
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Citi likely to need more
Globe and Mail

Citi cuts jobs in Canada
Reuters

 
Cabinet • Citigroup • automaker • auto industry • bailout • Eric Holder • John Podesta • President Obama

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