Sarah Anderson, a director at the Institute for Policy Studies, is an advocate of aggressive pay curbs and isn't likely to buy into an eight-figure income, no matter what the performance.
"I want taxpayers to feel confident that an unreasonable amount of money isn't ending up in their pockets," Ms. Anderson said of the executives. "This may be the time to inject some sanity into the pay system."
That may be so. But Mr. Pandit and others -- to the extent you believe they are the right leaders of Citigroup -- or whoever takes their roles are unlikely to hang around if they're not amply paid.