How Citigroup Turned Toxic Assets Into Gold

The transcript discusses Citigroup's controversial decision to continue investing in CDOs during the financial crisis, despite significant risks and the need for a bailout. It highlights leadership decisions, risk management strategies, and transactions with the Federal Reserve. The narrative also explores regulatory considerations and market conditions, emphasizing the complexity of financial decision-making during a crisis.

Discuss the implications of buying assets from the Federal Reserve Bank of New York during the financial crisis.

What were the potential risks and benefits of the decisions made by Citigroup's trading desk in 2007?