Obama Considered Ousting Citi's Pandit But Declined Due To "Paucity Of Candidates" To Replace Him

04/30/2009 05:12 am ET | Updated May 25, 2011
  • NEIL KING JR. And NAFTALI BENDAVID Wall Street Journal

WASHINGTON -- The ouster by the government of General Motors Corp. Chief Executive Rick Wagoner could put pressure on the Obama administration to deal more aggressively with the management of banks receiving federal aid.

Since the financial crisis bloomed in September, the Bush and Obama administrations have replaced management only in cases when they took control of struggling companies, such as mortgage giants Fannie Mae and Freddie Mac and insurance concern American International Group Inc.

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