Here’s a graph showing Citigroup’s stock performance during the reign of its just fired CEO Vikram Pandit. A man who helped bring the world economy to the brink of destruction and who’s bank engaged in some of the most egregious malfeasance of any of the “too big to fail” banks.
And yet Mr. Pandit just walked away with a cool $260 million golden parachute for his endeavors.
That’s right — more than a quarter BILLION dollar bonus for destroying billions of dollars worth of shareholder wealth.
If I were to fail my business the way Pandit failed his my business partner would take me out in a field and put a bullet in my head — not pay me hundreds of millions of dollars as a bonus for going away.