Vikram Pandit | Wall Street Folly

Citigroup’s Pandit blowing a kiss to taxpayers as he goes to DC for more testimony; Obama still hoping Volcker Rule gets passed; JP Morgan beat Goldman in the ‘09 battle of investment banking fees; Ethically challenged Rangel finally steps down as committee head (now he just needs to get the boot from congress); Geithner adviser plans exit; Nissan the latest to recall cars

Posted by WSF On March - 4 - 2010

Citigroup’s Pandit Said to Plan to Thank Taxpayers for Bailout
Pandit Returns to Capitol’s Hot Seat
Obama Sends ‘Volcker Rule’ Proposal on Bank Trading to Congress
JPMorgan Tops Goldman in Investment Banking as Fees Swell 13%
Scandal-stained Rangel quits post
Geithner Adviser Sachs Plans to Resign as Banking Crisis Wanes
Nissan to Recall Over 500,000 Cars Read the rest of this entry »

Tags: Autos, bailout, Barack Obama, Charlie Rangel, Citigroup, Ethlly challenged politicians, Fees, Goldman Sachs, JP Morgan, Nissan, Politics, recalls, TARP, Tim Geithner, U.S.. Treasury, Vikram Pandit

Autos, Barack Obama, Citigroup, Fees, Goldman Sachs, JPM, JPM Chase, Politics, Tim Geithner, Vikram Pandit, investment banking

$100M Bonus for Goldman’s Blankfein? Can $GS really be that tone deaf?; Morgan Stanley gonna hire lots of traders!; This year bankers were pariahs at Davos; Obama unveils new budget with record deficit, his new jobs bill might cost $100B; Citigroup selling Private Equity unit?; Pandit pins faith on growth in Europe; TARP’s Barofsky proes up 41% last Q

Posted by WSF On February - 1 - 2010

Goldman Sachs and the $100 million question
M Stanley to recruit hundreds of traders
Obama 2010 budget projects new record for deficit
Obama’s Jobs Bill May Cost $100 Billion, Spokesman Gibbs Says
Bankers at Davos Face Global Ire
Gorman aims to strike a balance
Citigroup Said to Plan Sale of $10 Billion Private-Equity Unit
Pandit puts faith in overseas growth strategy
TARP’s Barofsky Increased Probes 41 Percent in Fourth Quarter Read the rest of this entry »

Tags: Amazon, Autos, Barack Obama, Bonuses, Citigroup, Compensation, Davos, Goldman Sachs, Jim Gorman, Lloyd Blankfein, Morgan Stanley, Neil Barofsky, Politics, TARP, Toyota, U.S. Budget, Vikram Pandit

Barack Obama, Bonuses, Citigroup, Compensation, Goldman Sachs, Lloyd Blankfein, Morgan Stanley

New bailout fee? Obama administration looking for more ways to stick it to banking industry; Jamie Dimon sick and tired of banker “vilification”; B of A in settlement talks with Cuomo; SEC upping the ante against them with more charges; Bunning wants NY Fed AIG probe; Pandit reshuffles the deck chairs again at Citigroup; Fed made $45B in ‘09; No big surprise, but Pang committed suicide per ruling; AIG looking to hire ex Lehman lawyer to fill general counsel slot abandoned over pay flap; B of A exec demotion

Posted by WSF On January - 12 - 2010

Banks Brace for Bailout Fee
JPMorgan’s Dimon defends bank’s pay policy
SEC broadens charges on Bank of America
Bank Is in Talks to Settle State Claims Over Merrill
N.Y.’s Cuomo Seeks Bonus Data From Bailed-Out Banks
SEC Should Probe NY Fed Staff Over AIG, Senator Says
Pandit Shakes Up Citi’s Upper Ranks
Federal Reserve earned $45 billion in 2009 Read the rest of this entry »

Tags: AIG, Andrew Cuomo, Bank of America, Banks, Barack Obama, Citigroup, Deck shair reshuffling; Ponzi schemes, Fed, Fees, Jamie Dimon, JP Morgan, Lehman Brothers, Politics, Pound of flesh; SEC, TARP, Vikram Pandit

AIG, Bank of America, Barack Obama, Bonuses, Citigroup, Compensation, JPM Chase, Jamie Dimon, SEC, Taxes, Vikram Pandit

White smoke! B of A has FINALLY anointed a Ken Lewis successor — from within; Secondary prices at only $3.15/share, below what Treasury paid — Will Vikram get the boot after Citigroup’s stock offer gets poor reception?; Meredith Whitney cuts Goldman, Morgan Stanley estimates; Lehman Brothers gets ok to pay $50 million in bonuses; Dubai Properties staying the course with Tiger Woods

Posted by WSF On December - 17 - 2009

Bank of America names Brian Moynihan as new CEO
U.S. Delays Sale of Citigroup Stake as Shares Sell at Discount
Bernanke confirmation seen passing first hurdle
Meredith Whitney Cuts Goldman Sachs, Morgan Stanley Estimates
Lehman to pay $50m in bonuses
U.S. says Credit Suisse schemed to evade sanctions
SEC tightens rules on investment advisers, corporate transparency
Tiger Woods Dubai Says It’s Committed to Golf Course Read the rest of this entry »

Tags: Bank of America, Ben Bernanke, Citigroup, Fed, Goldman Sachs, Lehman Brothers, Meredith Whitney, Morgan Stanley, SEC, Tiger Woods, Vikram Pandit

Bank of America, Bonuses, Citigroup, Credit Suisse, Goldman Sachs, Meredith Whitney, Politics

SEC wants B of A jury trial; David Einhorn and Bill Ackman placing short bets; Vikram Pandit breathing easier?; Lessons for Pay Czar; Goldman: Unemployment rate to 10.5% by end of ‘10?; Pimco, Baupost said to bail on CIT Bondholder committee; Ex Deutsche Bankers starting distressed fund; GM falling short of goals?; Volkswagen sees auto recovery a long way off

Posted by WSF On October - 8 - 2009

BofA to face 12 angry taxpayers in trial: SEC
Selling US short
Citigroup’s Pandit Said to Receive Positive Review From Egon
No longer a Vik-tim (Ed: Gotta love the Post’s headlines!)
In Merrill’s Failed Plan, Lessons for Pay Czar
JPMorgan, Goldman Profit Probably Rose as Citigroup Lost Again
Frank’s Plan Criticized As Too Lax Read the rest of this entry »

Tags: Bank of America; SEC, Baupost, Bill Ackman, Citigroup, Compensation, Czars, David Einhorn, GM, Goldman Sachs, Greenlight Capital, Hedge funds, JP Morgan, Merrill Lynch, Pershing Square Capital, Pimco, Short selling, Vikram Pandit

WSF

Fed wants more control on banker pay; Pandit says $100M too much to pay a banker; Thain says B of A knew everything about Merrill losses & bonuses; Barclays still can’t get no respect; Flash order ban; Hedge fund liquidations down; Pang had drugs in his system when he died; Madoff Montauk crib already sold to undisclosed buyer for over $8.75M

Posted by WSF On September - 18 - 2009

Bankers Face Sweeping Curbs on Pay
Pandit Says $100 Million Is Too Much for a Banker
Citigroup CEO Pandit Says Phibro Business Will Be Restructured
Citigroup eyes spinning off controversial oil unit
Thain Says Bank of America Knew About Merrill’s Bonuses, Losses
SEC Puts Forward Plan to Ban Flash Orders
Hurdles for a Bulked-Up Barclays
Barclays creates $12bn credit vehicle Read the rest of this entry »

Tags: Bank of America, Barclays, Bernie Madoff, Bonuses, Citigroup, Compensation, Fraudsters, Hedge funds, John Thain, Merrill Lynch, SEC, Vikram Pandit

WSF

Five B of A directors said to have gotten Cuomo subpoenas; Oy: Thain pressured execs with “wonderful opportunity” to give up bonuses; Someday Citi will be profitable; Citi looking to image changing ad campaign; SEC considering flash order ban; California probing credit rating firms; Levkovich sees 5-10% mkt pullback; Volker says ‘long slog’ for recovery

Posted by WSF On September - 17 - 2009

Cuomo Said to Subpoena Five Bank of America Directors
Ex-Brokerage Chief: Pressured to Forgo Bonus by Thain
Citi CEO Pandit Has ‘Little Doubt’ of Profit Return
Pandering Pandit
SEC to Consider Flash-Order Ban, Rules for Credit-Rating Firms
California Will Investigate Rating Firms, Attorney General Says
Citi’s Levkovich sees 5-10 pct pullback in US stocks Read the rest of this entry »

Tags: Andrew Cuomo, Bank of America, California, Citigroup, credit ratings, Economy, FDIC, Paul Volcker, SEC, Vikram Pandit

WSF

FDIC wants a Citigroup shake-up; Vikram Pandit closer to getting the boot?

Posted by WSF On June - 5 - 2009

Is Vikram Pandit closer to getting the boot? According to the WSJ, the FDIC is pushing for yet another Citigroup top management shake-up, “imperiling” CEO Vikram Pandit according to their report. There’s apparently no love lost between Pandit and Sheila Bair, dating back to last fall when Bair endorsed the Wells Fargo higher bid for Wachovia after Citigroup had agreed to take over the firm in a government arranged hookup. That led to late night conference call where Pandit is said to have waged an expletive deleted filled tirade against Bair. We wonder what Pandit might be saying about his nemesis this morning. (We can guess, and it’s probably not pretty.)

Sounds like new Citi board member, Jerry Grundhofer, who’s the former U.S. Bancorp CEO, might be in line for Pandit’s job. But not all regulators are apparently on board with Bair’s position…. Read the rest of this entry »

Tags: Citigroup, FDIC, Politics, Revolving Door, Sheila Bair, TARP, Vikram Pandit

Banks, Citigroup, Politics, Vikram Pandit, WSF

Are Vikram Pandit’s days as Citi CEO numbered? FDIC senior officials have apparently been discussing possible successors just in case ($C)

Posted by WSF On April - 21 - 2009

According to the Financial Times, the FDIC has begun to explore who might be a successor to CItigroup CEO Vikram Pandit should the beseiged bank need more taxpayer dollars. Those who might be in the running include Ned Kelly, the current CFO, Gary Crittenden, his predecessor who now heads the division that holds the bank’s noncore assets and a new director that wasn’t named.