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Citigroup bailed out
Vikram Pandit's first interview since the bailout
‘This is an unprecedented market time we're going through. We need to work hard to figure out how to get from here to there’
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$306-b rescue plan $306-b rescue plan
 The US government agreed to a $306-billion rescue plan for Citigroup Inc
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No move to replace Vikram Pandit No move to replace Vikram Pandit
 Despite the massive rescue effort, regulators are not pushing for a management change
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Citi to cut 53,000 jobs Citi to cut 53,000 jobs
 The strength of Citigroup would come down from its peak of 3,75,000 in 2007 to 3 lakh employees.
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US banks collapse 22 US banks collapse
 Nearly 22 American banks have collapsed in 2008. Citi struggled to save itself from becoming number 23 in this fast growing long list.
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• The Great Crash of 2008
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