In other news, as anyone with a modicum of reasoning power should have been able to predict, financial firms are having trouble attracting top executive talent. While many hot-blooded capitalists would jump at the chance to revitalize troubled institutions, the prospect of being a government bureaucrat has a tendency to temper enthusiasm. I like this description:
At Citigroup, Jerry Grundhofer, the former chief executive of regional bank U.S. Bancorp who recently joined the New York company's board as part of a government-driven shake-up, is viewed as a strong potential successor to Vikram Pandit.
But Mr. Grundhofer, 64 years old, has expressed concern about the relatively low pay that likely would come with the job, along with the difficulty of leading a company that is so entangled with the U.S. government, according to people familiar with his thinking. The government soon will own as much as 34% of Citigroup.
Yeah, I don't blame you, Jerry. Who would want that job? No one worthwhile, as would be expected.