CEO of Citi faces government panel after billions of taxpayer bailout

On Capitol Hill, the CEO of Citigroup updated congress on the billions of bailout funds that the bank received. Vikram Pandit thanked the public for the 45 billion taxpayer dollars the bank was given in 2008. As part of the deal, the government got a share of ownership of the company. The CEO joined the assistant secretary of financial stability for the Treasury Department, Herbert Allison, Jr, today before a TARP congressional oversight panel. He said that changes had been made to insure that taxpayers won't have to fund another bailout in the future. But the panel was skeptical. FSRN's Karen Miller has more.

In the House today, lawmakers scuttled their larger 150 billion dollar jobs package, and passed a much smaller version authored by the Senate. The 15 billion dollar jobs measure is mostly tax breaks for small businesses to hire unemployed workers. The bill is likely to go the Presidents desk to be signed into law before the end of the week.