Vikram Pandit earns $10.8M after telling Congress he made $1M

Story Transcript

TEXT ON SCREEN: On March 16, 2009, Reuters reported Citigroup CEO Vikram Pandit received $10.82 million of compensation in 2008. Yet, one month earlier, Pandit told a congressional committee he received only $1 million.

House Committee on Financial Services
February 11, 2009

REP. DENNIS MOORE (D-KS): I have a series of questions I’d like to ask. How much taxpayer money did your company receive in the past five months? Number two is: how much salary did you receive in 2008, and how much, if any, bonus or other financial consideration did you receive?

VIKRAM PANDIT, CITIGROUP CEO: Yes. Congressman, we received $45 billion of TARP money. My compensation for the year 2008 was my salary, which is $1 million. I received no bonus. And as I stated earlier, I plan to take $1 a year in salary and no bonus until we return to profitability.

MOORE: Thank you, sir.

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Citi CEO caught in double-talk

by TRNN, The Real News Network
March 17, 2009

<h1>Citi CEO caught in double-talk</h1> <p class="byline">by TRNN, The Real News Network <br />March 17, 2009</p> <p>https://www.youtube.com/watch?v=CvXSSOukgx0</p> <p>Vikram Pandit earns $10.8M after telling Congress he made $1M</p> <hr class="wp-block-separator" /> <h2>Story Transcript</h2> <p>TEXT ON SCREEN: On March 16, 2009, Reuters reported Citigroup CEO Vikram Pandit received $10.82 million of compensation in 2008. Yet, one month earlier, Pandit told a congressional committee he received only $1 million.</p> <p>House Committee on Financial Services<br /> February 11, 2009</p> <p>REP. DENNIS MOORE (D-KS): I have a series of questions I’d like to ask. How much taxpayer money did your company receive in the past five months? Number two is: how much salary did you receive in 2008, and how much, if any, bonus or other financial consideration did you receive?</p> <p>VIKRAM PANDIT, CITIGROUP CEO: Yes. Congressman, we received $45 billion of TARP money. My compensation for the year 2008 was my salary, which is $1 million. I received no bonus. And as I stated earlier, I plan to take $1 a year in salary and no bonus until we return to profitability. </p> <p>MOORE: Thank you, sir.</p> <p>DISCLAIMER:</p> <p>Please note that TRNN transcripts are typed from a recording of the program; The Real News Network cannot guarantee their complete accuracy.</p> <hr /> <p>This <a target="_blank" href="https://therealnews.com/anpciticeo">article</a> first appeared on <a target="_blank" href="https://therealnews.com">The Real News Network</a> and is republished here under a Creative Commons license.<img src="https://i0.wp.com/therealnews.com/wp-content/uploads/2021/11/cropped-TRNN-2021-logomark-square.png?fit=150%2C150&amp;ssl=1" style="width:1em;height:1em;margin-left:10px;"><img id="republication-tracker-tool-source" src="https://therealnews.com/?republication-pixel=true&post=157883&amp;ga4=G-7LYS8R7V51" style="width:1px;height:1px;"></p> Copy to Clipboard

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