Citi's Pandit to follow Rick Wagoner?

The news that the Obama Administration has effectively ousted GM CEO Rick Wagoner has led to a lot of talk on Wall Street about the fate of the likes of Vikram Pandit of Citigroup and Ken Lewis of Bank of America. These are two CEOs whose job security is constantly talked about. Some wonder why the administration is keeping them around, especially Pandit. Most people assume that Pandit has been deemed sufficiently pliable, willing to do whatever was asked of him. This has led to a rather unflattering portrayal in the media.

New York magazine called him "The Most Powerless Powerful Man on Wall Street." There have been times when he's been forced to act contrary to his own wishes to satisfy his handlers. He had to support a bill that would have given judges more power to alter mortgages--an idea no banker would agree with. That's just one of a string of humiliations. But you've got to give him credit. He's sticking it out. But even now, you couldn't exactly say his job is secure. 

For more:
- here's the New York article

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