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Monday, September 26, 2016

Pandit Does Davos, One Percent Gloat, Madness Reigns

Jan. 27 (Bloomberg) — Sometimes a single fact stands out amid all the clutter, offering a flash of insight and clarity. Here is one of them: Citigroup Inc. Chief Executive Officer Vikram Pandit is a co-chairman of the World Economic Forum’s annual meeting this week in Davos, Switzerland.

At first blush, the notion might seem almost ho-hum, a non- event. Upon further consideration, this looks like it can’t possibly be right. Then it turns out, much to our amazement, that the story is accurate, confirming once again that our world is stark mad. You really have to wonder why anyone outside of Citigroup would pick Pandit to lead anything.

  • jimbob67

    Pandit was appointed CEO after Citi’s problems were well known. All taxpayer capital investments in Citi (aka bailouts) have been paid back with interest. Although Citi still has issues to say the least, most would say Pandit has done a good job trying to right the ship.

  • Elsa

    Let’s face it, we are owned by the big corporations, they follow a different set of rules than we of the 99% do. In his eyes and the eyes of his peers, his success or failure is shown in the big fat multi-million checks he has been getting not in the pain and suffering his actions and lies has caused the “little people.” I say end “too big to fail,” by breaking up any corporation the fits that discription.