By Elizabeth Hester
Feb. 11 (Bloomberg) -- Citigroup Inc. Chief Executive Officer Vikram Pandit said he will take a salary of $1 and no bonus until the bank, which has accepted $45 billion in government bailout money, returns to profitability.
“I get the new reality and I will make sure Citi gets it as well,” Pandit said today in testimony before the U.S. House Financial Services Committee. Lawmakers called eight bank CEOs to Washington to explain how they were using their portion of the government’s $350 billion of rescue funds to boost credit.
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