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Citi's new CEO proves women can't have it all

The first female big-bank CEO in U.S. history is a Scot who has triumphed in the world's most competitive arenas — Goldman Sachs, Harvard Business School, McKinsey, and now Citigroup, where she will become CEO in February.

But the job that pushed Jane Fraser to her very limit was one of the most common in the world: Mom.


In her own words: "Being a mother of young children and having a career is the toughest thing I have ever had to do," she told an internal McKinsey interviewer after she left the consulting firm. 

  • Fraser talked of being "exhausted" and "guilty" despite being "blessed with a great partner in my husband who shares the responsibilities fully" — and despite officially working only part-time while raising small children.
  • Fraser's husband, Alberto Piedra, quit his job as head of global banking at European bank Dresdner Kleinwort in order to support her career.

Between the lines: Fraser's mentor, Lowell Bryan, explained to the Financial Times what "part time" meant at McKinsey: When staying with Fraser and her husband, he would find her working on her computer in the kitchen at 3 a.m.

  • Working part-time at McKinsey was "tough," Fraser told CNN. ""You're seeing people who you've managed and you’ve brought into the firm then progressing faster than you."

The big picture: Fraser epitomizes a work-life balance problem that's present at the top levels of any industry — and one that has only been exacerbated by the coronavirus pandemic.

  • Working mothers routinely juggle responsibilities and are — either directly or indirectly — punished for it at work.

The bottom line: "You cannot have it all," said Fraser in 2012. "Many things have had to give, personally and professionally."

Biden: The next president should decide on Ginsburg’s replacement

Joe Biden is calling for the winner of November's presidential election to select Ruth Bader Ginsburg's replacement on the Supreme Court.

What he's saying: "[L]et me be clear: The voters should pick the president and the president should pick the justice for the Senate to consider," Biden said. "This was the position the Republican Senate took in 2016 when there were almost 10 months to go before the election. That's the position the United States Senate must take today, and the election's only 46 days off.

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Biden: "Ruth Bader Ginsburg stood for the law"

Joe Biden said Supreme Court Justice Ruth Bader Ginsburg "never failed, she was fierce and unflinching in her pursuit of civil and legal right and civil rights of everyone," after learning of her death Friday night.

What he's saying: Biden gave a statement after traveling to Delaware from Minnesota, where, earlier Friday, he gave a campaign speech at a carpenters’ training center in Hermantown, a suburb of Duluth. She was "not only a giant in the legal profession, but a beloved figure, and my heart goes out to all those who cared for her and cared about her."

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Trump: Ruth Bader Ginsburg "led an amazing life"

President Trump said Supreme Court Justice Ruth Bader Ginsburg "led an amazing life," after he finished a campaign rally in Bemidji, Minnesota, and learned of her death.

What he's saying: "I’m sad to hear,” Trump told the press pool before boarding Air Force One. "She was an amazing woman, whether you agree or not, she was an amazing woman who led an amazing life."

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Trump to move fast to replace Supreme Court Justice Ruth Bader Ginsburg

President Trump will move within days to nominate his third Supreme Court justice in just three-plus short years — and shape the court for literally decades to come, top Republican sources tell Axios.

Driving the news: Senate Majority Leader Mitch McConnell and Senate Republicans are ready to move to confirm Trump's nominee before Election Day, just 46 days away, setting up one of the most consequential periods of our lifetimes, the sources say.

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What they're saying: Ruth Bader Ginsburg was a "tireless and resolute champion of justice"

Democratic and Republican lawmakers along with other leading figures paid tribute to Supreme Court Justice Ruth Bader Ginsburg, who died on Friday night at age 87.

What they're saying: “Our Nation has lost a jurist of historic stature," Chief Justice John Roberts said. "We at the Supreme Court have lost a cherished colleague. Today we mourn, but with confidence that future generations will remember Ruth Bader Ginsburg as we knew her — a tireless and resolute champion of justice.”

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Supreme Court Justice Ruth Bader Ginsburg dies at 87

Supreme Court Justice Ruth Bader Ginsburg has died at 87.

Why it matters: Ginsburg had suffered from serious health issues over the past few years, including cancer. Her death sets up a fight over filling a Supreme Court seat with less than 50 days until the election.

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NYT: White House drug price negotiations between broke down over $100 "Trump Cards"

Negotiations on a deal between the White House and pharmaceutical industry to lower drug prices broke down last month after Mark Meadows, the president's chief of staff, insisted that drugmakers pay for $100 cash cards to be mailed to seniors before the election, according to the New York Times.

Why it matters: Some of the drug companies feared that in agreeing to the prescription cards — reportedly dubbed "Trump Cards" by some in the pharmaceutical industry — they would boost Trump's political standing weeks ahead of Election Day with voters over 65, a group that is crucial to the president's reelection bid, per the Times.

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In photos: Virginians line up for hours on first day of early voting

In some parts of Virginia, people waited in line up to four hours to cast their ballots on the first day of early voting, according to the Washington Post.

The big picture: The COVID-19 pandemic seems to already have an impact on how people cast their votes this election season. As many as 80 million Americans are expected to vote early, by mail or in person, Tom Bonier, CEO of TargetSmart, a Democratic political data firm, told Axios in August.

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