Citigroup Inc. Chief Executive Vikram Pandit put his credibility on the line last month when he wrote a memo saying the bank, after five consecutive quarters of losses, at last was profitable. It turns out that depends on which definition of “profit” is used.
The executive may rank as highest paid chief on Wall Street, even after taking a 34% cut from the lofty $70 million pay package he took home in 2007.
Some of Wall Street's most powerful firms, reeling from steep drops in stock-trading profits, are urging regulators to help them make more money.
It is one of those rare moments in Leon Wagner's 26 years on Wall Street. Virtually every investment he has made recently has gone up - a lot.
