Citigroup CEO says bank is different, healthier

March 05, 2010

WASHINGTON - Facing sharp questions from bailout overseers, Citigroup Inc. CEO Vikram Pandit said Thursday the bank is "fundamentally different" from the tangled behemoth that took more than $45 billion in government aid during the recent financial crisis. "I am pleased to say we are in a far different and much healthier position," Pandit said in testimony before the Congressional Oversight Panel. The independent watchdog oversees the $700 billion financial bailout. Pandit said Citi's experience during the crisis showed the need for a clearer process to deal with large, failing financial firms.

- Associated Press

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