The Humiliations of Vikram Pandit, Continued


The Wall Street Journal idly wonders if, now that the federal government has broken the seal by ousting Rick Wagoner, it will start chopping heads at banks receiving TARP money. For instance — not that the Journal is trying to name names or anything — there is a certain Citigroup CEO they've had their eye on.

Officials have in the past considered removing CEO Vikram Pandit, but demurred, in part because of the paucity of candidates to replace him, people familiar with the matter say.

Yeah. You know, it's weird, there really is a paucity of guys willing to take on the overhaul of a ginormous unwieldy financial institution whose survival is integral to the world economy and to be castigated on a near-daily basis by cable-news hosts — not to mention humiliated by their local trade publication, which seems to have totally forgotten that the real people who set this thing up are actually sipping frosty beverages in Cancun somewhere — all in exchange for a dollar a year and the chance to work out some daddy issues. Actually, we took an informal poll at our local bar the other night to see if anyone was interested in such a job, and you know what we got? Crickets.

CEO Change Begs Question About Banks [WSJ]
Related: The Most Powerless Powerful Man on Wall Street [NYM]