Citi: We Are & Feel Your Pain

Citi CEO Vikram Pandit: “What went wrong is we had tremendous concentration in the sense we put a lot of our money to work against U.S. real estate. We got here by lending money, and putting money to work in the U.S. real estate market, in a size that was probably larger than what we ought to have done on a diversification basis. I can completely understand how people on Main Street, people who are not close to this industry, would be furious at what's happened.”