FDIC tries to push out Citigroup's Pandit

The FDIC has decided to try to oust Citigroup (C) top management, something that the Treasury, the Fed, and the Citi board have elected not to do. Some think Citi CEO Vikram Pandit has not been at the bank long enough to be blamed for most of its problems. Others do not want to disrupt the operations of the bank.

The actions of the FDIC is putting it at odds with other regulators who believe the agency is not in a position to press for change at a major money center bank, particularly one that is not on the brink of failure. Financial officials in the Administration are likely to have an ugly fight over the matter.