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Ross: Citibank Should Not be Controlled by US

Tuesday, 3 Mar 2009 | 7:13 PM ET

The U.S. state department should not be running institutions like Citibank, as a huge proportion of their business is outside the U.S., says Wilbur Ross, chairman and CEO of WL Ross & Co. He tells CNBC's Martin Soong that it is difficult for these international institutions do do business overseas if it is controlled by the U.S. government.