allison jr, then citigroup chief executive officer vikram pandit. we thank you for join us and appreciate your willingness to help us learn from your perspectives. allow me to offer my colleagues an opportunity to provide their own opening remarks. i want to say that i understand that mr. atkins has been caught in traffic, so i will ask mr. mcwaters if he would like to make an opening statement. >> thank you, professor warren. i appreciate the attendance of secretary allison and mr. pandit and look forward to hearing their views. the taxpayers repeatedly heard the phrase too big or too interconnected to fail ascribed to certain financial institutions and they have no doubt wondered what is captured by certain concept and why these merited the investment of hundreds of billions of dollars of taxpayer source t.a.r.p. funds? today we have the opportunity to learn why citigroup was considered too big or too interconnected to fail, why treasury allocated $45 billion of t.a.r.p. funds to the institution, and why treasury, the federal reserve and the fdic

i'm a gigantic believer in vikram pandit. i think i started it. i was the only one at 2 1/2 and 3 i like this guy. he's getting convert after convert as people realize he's a great banker. citigroup is a $12 stock at the end of 2012. how about mark? speaking of first horizon. mark in tennessee. mark? >> caller: a big southern boo-yah from chattanooga, tennessee. with this health care reform going on, what should i do about hig? what's going to be going on with it? >> i've got an odd answer for you. this is from the help of my friend, an accountant. and a man who has really provided a lot of great intelligence for me. works with me at thestreet.com where i'm chairman. here's the deal, the annuities business is going to be on fire as people try to shelter taxes. and that's why hig is going to be really good. i like hig very much. i would be a buyer of it right here. let's go to tay in virginia. >> caller: how are you? >> i was on martha stewart today. how can you not have a good day when that happens? >> caller: congratulations on that. >> thank you

allison jr, then citigroup chief executive officer vikram pandit. we thank you for join us and appreciate your willingness to help us learn from your perspectives. allow me to offer my colleagues an opportunity to provide their own opening remarks. i want to say that i understand that mr. atkins has been caught in traffic, so i will ask mr. mcwaters if he would like to make an opening statement. >> thank you, professor warren. i appreciate the attendance of secretary allison and mr. pandit and look forward to hearing their views. the taxpayers repeatedly heard the phrase too big or too interconnected to fail ascribed to certain financial institutions and they have no doubt wondered what is captured by certain concept and why these merited the investment of hundreds of billions of dollars of taxpayer source t.a.r.p. funds? today we have the opportunity to learn why citigroup was considered too big or too interconnected to fail, why treasury allocated $45 billion of t.a.r.p. funds to the institution, and why treasury, the federal reserve and the fdic

allison jr, then citigroup chief executive officer vikram pandit. we thank you for join us and appreciate your willingness to help us learn from your perspectives. allow me to offer my colleagues an opportunity to provide their own opening remarks. i want to say that i understand that mr. atkins has been caught in traffic, so i will ask mr. mcwaters if he would like to make an opening statement. >> thank you, professor warren. i appreciate the attendance of secretary allison and mr. pandit and look forward to hearing their views. the taxpayers repeatedly heard the phrase too big or too interconnected to fail ascribed to certain financial institutions and they have no doubt wondered what is captured by certain concept and why these merited the investment of hundreds of billions of dollars of taxpayer source t.a.r.p. funds? today we have the opportunity to learn why citigroup was considered too big or too interconnected to fail, why treasury allocated $45 billion of t.a.r.p. funds to the institution, and why treasury, the federal reserve and the fdic

citigroup ceo vikram pandit will find the government and taxpayers this morning for the banks $45 billion bailout. it he will also stress the need for a strong consumer authority as part of the regulatory system. his prepared testimony just released comes ahead of this morning's congressional oversight panel hearings, chaired by harvard law professor elizabeth warren. live coverage at 10:00 a.m. eastern time on c-span radio or c-span3. a court in germany convicted four men and a foiled plot to attack u.s. targets in germany. the men were charged with plotting bombing attacks in germany against american citizens and facilities, including the u.s. air force ramstein base. they have been sentenced to up to 12 years. yemen's interior ministry said it arrested 11 suspected al qaeda notes and during a raise -- raid on one of their homes. the u.s. has become increasingly worried about militants based in yemen's sense al qaeda groups there and saudi arabia emerged. they organized the failed attempt to blow up the u.s. airliner on christmas day in detroit. those are the latest headlines from c-spa