Pandit out at CITI?

From the FT:

Ahead of Citi’s annual investor meeting, it has emerged that senior officials at the Federal Deposit Insurance Corporation privately discussed who might replace Mr Pandit if the bank needed more government aid.

“It is unthinkable that Vikram could stay on if Citi requires more federal funds,” said a person familiar with the matter. “It is prudent to be thinking about different scenarios.”

The FDIC is only one of the regulators which has a say on whether Mr Pandit steps down if the government bails out Citi for the fourth time in six months following completion of the “stress test” of its health.

Any decision on Citi’s leadership will be led by the Treasury, which is about to take a 36 per cent stake in the company and will sanction further capital injections.

I feel bad for Vikrim. He certainly can't be blamed for CITI's problem (leave the blaming for Rubin and Prince), but he didn't really fix any of them either. I agree that if CITI gets another bailout, its time for him to go. They should take the rest of the board of directors out also. And while they are at it, take out Ken Lewis and his cronies. 

Now that I think about it, I don't feel that bad for him. Lets not forget, when the subprime crisis was in its earlier stages, CITI decided that to get Pandit on board, they would buy his hedge, Old Lane LLC. I do not think he has too much to worry about, and from the looks of it, its time for him to retire anyways.