The Greedsters Sequels: A SHOCKER FROM CITIGROUP

Friday, October 19, 2012

A SHOCKER FROM CITIGROUP

WSJ - For the CEO of one of the world's leading banks to suddenly resign shook up Wall Street and the financial world. Mr. Vikram S. Pandit took over at the helm of Citigroup in 2007, steering the bank through thick and thin from 2007 to October 17, 2012. The company's wheel wobbled during these past 2 years until he was deposed as CEO of Citigroup by Board Chairman Michael O'Neill . Mr. O'Neill is regarded as a new generation of Chairman of the Board - inquisitive, poking into trading , questioning trades of all kinds, reducing some costs and exercising the exit of thousands of employees. Behind the scenes the tension between the CEO and Board Chairman finally became too much and Mr. Pandit's head rolled. The Board asked for Mr. Pandit's resignation, which is a polite way to say he was fired.

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WHAT IS A "GREEDSTER"?

A General description of a "GREEDSTER" is any company, organization or individual for whom "ENOUGH IS NEVER ENOUGH".

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