Customer Reviews

Charlie Rose - Vikram Pandit (November 25, 2008)

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This was in one way an extremely frustrating interview. Charlie Rose asked the right questions, but Vikram Pandit did not really answer them. He had a certain mantra which he repeated over, about the importance of looking forward, and about Citibank's unique position as international bank. He did not take any responsibility, and in fact did not imply Citigroup had any responsibility for all the toxic paper, the poor risk management, the greed for excessive profits which led to the loss of public faith in Citi. He did not answer Charlie Rose when he was asked the question of how the present managment of Citigroup could continue after having made so many errors. He did not have one word of apology to the company's stockholders who have seen their investment decline more than eighty percent in one year.
Pandit may be a good manager. And the reforms he is making may in fact put Citi in the realms of the profitable in the years ahead. But as someone explaining the situation to the public he simply does not do the job.