Source:
http://article.wn.com/view/2011/05/20/Citigroups_Pandit_Is_Overpaid_Opinion/
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Saturday, May 21, 2011
Citigroup's Pandit Is Overpaid: Opinion
By Robert Barone, Ph.D. and Matt Marcewicz NEW YORK (TheStreet) -- Vikram Pandit was named CEO of Citigroup(C) in December, 2007. Most people have forgotten that he pocketed at least $165 million when he sold his hedge fund, Old Lane Partners, to Citi. His hedge fund was shut down in the middle of 2008 due to investor redemptions, forcing Citi to write down the value of the poor investment. Citigroup CEO Vikram Pandit As per the Wall Street Journal, by February 2009, taxpayers gave Citi $50 billion dollars in capital, and guaranteed $301...
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