04/24/2012 04:58 pm ET

Why The Citigroup Pay Revolt Is A Victory For Captialism

One of the more gratifying moments so far this year -- at least in the realm of high finance -- was the decision last week by shareholders of Citigroup to reject a $15 million pay package for CEO Vikram Pandit. The shareholders vetoed the award since they believed there was too big a disconnect between Pandit’s pay and performance.

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