Tuesday, April 21, 2009

Citi CEO: Citi Will Repay TARP

by Bill McBride on 4/21/2009 12:22:00 PM

From Bloomberg: Pandit Says He’ll Repay ‘Every Dollar’ of TARP Funds

Citigroup Inc. Chief Executive Officer Vikram Pandit, speaking at the company’s annual shareholder meeting, said he will repay “every dollar with interest” of funds received [from TARP].
More from the WSJ:
Citigroup Chief Executive Vikram Pandit struck a positive, even hopeful tone, at the embattled banking giant's annual meeting, insisting that it is well prepared for success in an economic recovery.

In his review of Citi's 2008, Pandit said, "The vital signs of Citi are improving." He predicted Citi will have "strong operating leverage" going forward once the economy recovers.
Remember Pandit took over in December 2007, not long after Chuck - “As long as the music is playing, you’ve got to get up and dance. We’re still dancing.” - Prince resigned.