Citigroup 'went wrong' on realty: Pandit
Virtually blaming the previous management for the mess within Citigroup Inc, its Indian-American chief executive Vikram Pandit said its unchecked exposure to the US realty industry led to the present crisis. "We got here by lending money, and putting money to work in the US real estate market in a size that was probably larger than what we ought to have done on a diversification basis," Pandit told the popular Charlie Rose Show.
