In the meantime someone needs to school CEO Vikram Pandit on how to properly answer tough questions. He missed a wonderful opportunity on January 27th to dispel rumors of Citigroup’s nationalization during and after his formal address at Citi's 2009 Financial Services Conference.
He did not address the subject of nationalization in his speech. Then, in the Q & A session following his presentation, he was pointedly asked what was the possibility of Citigroup being nationalized.
You could hear the audience gasp as the question was asked. I thought the question was planted by Pandit himself and I was prepared for him to say something such as there isn’t a snowball chance in hell, or, something nicer like, that is simply not in the cards. Instead he went into a verbose discussion about the nature of democracy. I was stunned.
He did not address the subject of nationalization in his speech. Then, in the Q & A session following his presentation, he was pointedly asked what was the possibility of Citigroup being nationalized.
You could hear the audience gasp as the question was asked. I thought the question was planted by Pandit himself and I was prepared for him to say something such as there isn’t a snowball chance in hell, or, something nicer like, that is simply not in the cards. Instead he went into a verbose discussion about the nature of democracy. I was stunned.
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