We don’t have to tell you people we love ourselves some Vikram Pandit, but is this perhaps laying it on a bit thick? In response to “sources” telling the Post that regulators may take Count Vikula out of the building in order to “signal Washington is taking as hard a line with the banks as it did with General Motors,” Citi CFO Ned Kelly offered: “Replacing [Pandit] would be dramatically de-stabilizing both for Citi and the system.” As for the matter of Tim Geithner paying a visit to the Big C’s offices a week and a half ago? Totally not a big deal, and nothing having to do with Pandito’s job being at risk. The drop by, according to people familiar with the meeting, was “simply to conduct a checkup on the bank.” You know, making sure the building was up to code, that the toilets were all flushing properly, etc. Standard. Paulson used to do the same thing.
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You know. It’s Vikula’s fault the Mets are 6-9 so far this year.
That’s like Oprah threatening to put on weight.
FUD
@2- actually it’s not at all like that. please come up with an analogy that actually makes sense (and is funny).
Citi CFO Ned Kelly offered:
“Replacing [Pandit] would be dramatically de-stabilizing both for Citi and the system.”
Translation: Get that biotch up and outta here. It’s my turn to kick ass and take names.
http://www.delsjourney.com/images/news/news_02-03-01/2-2226_Ned_Kelly_Statue.jpg
Citi should get back to basics.
http://www.hulu.com/watch/4253/saturday-night-live-first-citywide-change-bank-2
The guy started in Dec 2007 after Citi had loaded every toxic crap into their books. And they can’t be too aggressive in cleaning their books as they will be getting fire sale prices. The govt has no business in telling what to do!
@7- yup. try telling that to the idiots who actually think Vikram got Citi into the vat of shit it’s in.
They should execute him along with the Ass Hats who bought his piece of crap hedge fund for ridiculous money!
@4
what’s wrong? did they drop coverage on the dog-shit stock you fed to your 2 clients? getting to month end with no gross? did compliance come after you for too many B shares sales?
@10- nope. your analogy, like all comments you leave, just sucked. now come back with a comment about how I’m a “pussy fag.” We know it’s all your capable of.
@11
are you stalking me?
@12- if by stalking you mean noticing a common thread among your comments (which are all accessible by clicking your username), then yeah, I’m stalking you.
Every morning poor Vikram must wake up and say to himself “why did I take this job”. Wonder who they would replace him with since he was the only one dumb enough to step up to the plate.
@13
that’s fucking gay
@9- SHUT. THE. FUCK. UP. about him selling old lane. Yes, the people at Citi who offered to pay him that much are idiots, but the fact that he got that price reflects badly on them, not him. shouldn’t he have attempted to get the most money he could? the answer’s yes.
@13 – Somali Ass Pirate
@ Seaman
I’m not your stalker, but you’re a sucker man! So predictable!!
@7 – 8 is right though. Expecting Congress to understand the nature of a bank balance sheet is a bit rich. And T geith and Paulson have to structure this baby to the lowest common denominator, i.e. the fools in the House and Senate banking committee.
What they mean is that the Indians that run all of Citi will riot. It is a bad enough thing to outsource your IT to India, a far worse thing to outsource your executive management to India.
@19 knows whats up! Well played, sir.
@7 – “The govt has no business in telling what to do!”???
Are you kidding me? The govt owns Citi. The passive investors who cupped Chuck-o’s balls for the last 10 years have no business complaining now.
Vik’s doing as good a job as anyone could.
@21
Bang Galore much?
@16 Lighten Up, Francis!
Let me break it down for you:
Reason for execution
Pandit: Running Citi into the ground (OK, so the plane was in a tailspin…but he hasn’t helped one iota!)
Ass Hats who bought Pandit’s Fund: For buying Pandit’s Fund for a fortune.
Clear enough for you, Genius!
@22 Just saying knows his place and he’s doing what he’s told, which is about all that can be asked of him – i.e. not drinking Boone’s before interviews, crying about MTM, or blaming the govt for his bad decisions.
-21
I heard they were offering the job to Dev Patel
@25 Dev turned it down cause his father got a better signing bonus for him selling himself to a kinky Arab Sheikh.
The government is increasingly intervening in bank management for bare political reasons. This needs to stop. I have not been one for alarmist rhetoric, but I really think at some point this behavior genuinely starts to threaten US-style capitalism.
The US may own significant voting rights in C now, but it can’t be allowed to interfere in management like any other common equity holder. Unlike, the decision makers controlling privately-held voting rights, the government guys have no real personal motivation to maximize shareholder profits. Instead, their primary motivation is to maximize the political utility of their stake.
Bad, bad bad.
@27
What’s sillier? – a lilly like Bill Ackman thinking he knows what’s best for our economy, or, the aggregate (in)sensibility of the US Congress?
And firing Ken Lewis wouldn’t? Come on! Kenny is our only conduit to the truth behind govt. He should stay. Hear hear for Ken Lewis!
Reading this, I’m suddenly reminded of a Monty Python skit where the Mafia are trying to extort an Army General – http://www.youtube.com/watch?v=cNZKUozrBl4 .
“Thats a nice banking system you have there…be a shame if something were to happen to it…”