Citigroup is currently the largest bank in the United States with over US$600 billion in deposits and assets under management of over US$1.2 trillion. Citigroup’s fortunes continued to blossom during Sandy Weill’s tenure and even during the market downturn in 2002. On October 1st, 2003 Chuck Prince replaced Sandy Weill as CEO of Citigroup and for the next several years successfully continued to grow the business and achieve record profits and earnings. Citigroup’s stock continued ... ... middle of paper ... ...sj.com/article/SB122747680752551447.html. Wall Street Journal.
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The presidential election of Franklin Delano Roosevelt in 1932 had risen the nation’s hope of economic restoration. Over three years of unrelenting hardship had taken damage on the American psyche. Roosevelt’s landslide electoral victory over former president Herbert Hoover, signaled a thorough rejection of the existing state of affairs and a desire for a new approach on “fixing the national economic crisis” (Hurley). The new president would not let down the nation. During his first two terms in office, FDR “enforced legislation through Congress that set a new standard for government intervention in the economy” (wm.edu).