When Vikram Pandit became CEO of Citigroup a year ago, critics said he was too much of a technocrat to lead the bank through troubled times. Late Sunday, the U.S. government stepped in with emergency help -- bolstering the view that Pandit waited too long to cut jobs, shed bad assets and reorganize. "He didn't go into crisis mode early enough, or at least it wasn't obvious," said Duke University professor Campbell Harvey.

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