Fresh off setting a record with the Department of Justice, CitiGroup Chief Executive Officer Michael Corbat is looking to set another record.
The record? No, not the amount of the fine. The fact that no individual bank executive was prosecuted when fraud was all around is an amazing achievement, a show of power that the 1 percent really are in control.
But the record Corbat might want to break has nothing to do with control of the levers of government power to the firm’s benefit. It has everything to do with raising money for charity.
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