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The Geithner Calendars: As Citigroup Crashes, Meetings and Close Contacts

The Geithner Calendars: As Citigroup Crashes, Meetings and Close Contacts

by Tom Detzel and Jeff Gerth, ProPublica - April 2, 2009 10:00 pm EDT

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Tim Geithner's calenders as president of the Federal Reserve Bank of New York show frequent contacts with Citigroup executives as the company's finances deteriorated in 2007 and 2008. The New York Fed was Citigroup's primary regulator under Geithner, who later helped devise government bailout plans that gave Citigroup $45 billion in capital and guarantees on $240 billion in toxic assets. Geithner got the Fed job in 2003 with support from Robert Rubin, then a top Citigroup executive and Geithner's former boss at the Treasury Department.

The red line tracks the stock price of Citigroup against the left axis. The vertical lines denote meetings between then-New York Fed President Geithner and Citigroup executives as well as major financial events during 2007 and 2008. Firefox and Safari Users: Events marked in blue are taken from Geithner's calendars as president of the New York Fed.

Sources: Citigroup, Federal Reserve Bank of New York, Federal Reserve Bank of St. Louis, congressional records, news reports.
Krista Kjellman/ProPublica