Appeared on October 23, 2009
Jie Cai, Ph.D., assistant professor of finance at LeBow College of Business and a fellow at our Center for Corporate Governance, was quoted in a Fox News article titled "Who Represents Taxpayers' Stakes in TARP Banks? Good Question."
“If the U.S. government still holds those shares when Citigroup holds its next shareholder meeting, then the U.S. government is just like any other shareholder,” Cai said. “And just like any other shareholder, they can vote any way they like.”
Cai noted that the bank hopes to do that, but that efforts to raise money by issuing additional shares will depend on market conditions. “It will be interesting to see how it plays out,” he said.