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Citi has already received fresh capital injection to the tune of 45 billion dollars from the Federal government and officials way back in November reportedly had even discussed the option of replacing Pandit.
Pandit took over the reins of Citi in December 2007.
"... top government officials warned Pandit that a third trip to the taxpayer trough would probably cost him his job," the ‘Wall Street Journal’ reported today.
The daily said that Citi is in discussions with Federal officials which could result in the government increasing its ownership in the bank.
The report noted that in November last year Federal officials privately discussed the possibility of replacing Pandit.
"But the government decided not to remove him, in large part due to a dearth of qualified replacements," it added.
In addition to 45-billion dollar capital injection, the government had also agreed to guarantee the bank's assets worth more than 300 billion dollars.
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hope he and his several crooks go with him. the bank is fINISHED. we have lost our life savings. The bogus compliance/legal staffs, what are they doing. getting big fat salarydid not do their jobs. Hope the govt takes over the bank and fires all the crooks whole sale. The bank is run by the most incompetent buch of crooks. All they do is eat in fancy places, fly around the country and fire a small guy for wrong doing.