Citigroup (C) CEO Vikram Pandit is a case study in failing upward. He sold his hedge fund to Citi for $800 million and it promptly shut its doors -- but not before paying him $165 million. Under Pandit, Citi has lost $28 billion -- $90,615 per employee -- and been bailed out to the tune of $351 billion, including $45 billion in TARP money.
Did Citi use TARP money to reward Pandit with $10.8 million -- $9.8 million more than he testified in front of Congress to having gotten in 2008 -- for that boffo performance? Pandit isn't saying -- but he sure was happy to criticize the idea of taxing 90 percent of bonuses paid to banks that got TARP money.