Ex-CITIGROUP CEO Blames Glass-Steagall Repeal for Financial Crisis

[Octafish]

15. CITIGROUP paid ZERO TAXES on $4 Billion in Profit (BTW: CITI rec'd $2.5 TRILLION in the bailout!)

From Sen. Bernie Sanders:

Some of the largest and most profitable financial institutions in this country now pay little or nothing in federal income taxes. Last year, Bank of America received a $1.9 billion tax refund from the IRS, even though it made $4.4 billion in profits and received a bailout from the Federal Reserve and the Treasury Department of more than $1 trillion. Citigroup made more than $4 billion in profits last year but paid no federal income taxes, even though it received a $2.5 trillion bailout from the Federal Reserve and U.S. Treasury. And, in 2008, Goldman Sachs paid only 1.1 percent of its income in taxes even though it earned a profit of $2.3 billion and received a bailout of more than $800 billion from the Federal Reserve and U.S. Treasury Department

http://www.sanders.senate.gov/newsroom/news/?id=26d286ca-6ce5-4ef2-a284-85b240f4f30a