Will Pandit Satisfy Occupy Wall Street?
Citibank (NYSE:C) CEO Vikram Pandit has offered to meet with the Occupy Wall Street demonstrators. Pandit says their protests and grievances are “completely understandable”. Or, does Pandit simply want to avoid a nasty set of trick-or-treaters after hundreds of people marched to the New York City homes of prominent Wall Street figures such as hedge fund billionaire John Paulson and JP Morgan (NYSE:JPM) CEO Jamie Dimon?
According to Pandit, “trust has been broken between financial institutions and the citizens of the U.S., and that is Wall Street’s job, to reach out to Main Street and rebuild that trust … I’d talk about the fact that they should hold Citi (NYSE:C) and the financial institutions (NYSE:XLF) accountable for practicing responsible finance. I’d be happy to talk to them any time they want to come up.” Will Goldman Sachs (NYSE:GS), Bank of America (NYSE:BAC), and all the other big banks (NYSE:KBE) follow suit?
It remains to be seen when Pandit will start holding court with what is currently a leaderless Occupy Wall Street protest. One thing’s for sure: he won’t be able to avoid appointments so he can go flying around in his corporate jet.
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