Dick Parsons datapoint of the day

By Felix Salmon
August 12, 2009
Simon Johnson is quite right: it's scandalous that Citi chairman Dick Parsons has only about $350,000 of stock in Citigroup -- probably the value of a minor farm building abutting his Tuscan vineyard. That gives him every incentive to take outsize risks: his upside is huge, if they pay off, while his downside is barely noticeable for a man of his extreme wealth. It's long past time for him to get his checkbook out and buy a serious chunk of Citi stock.

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Simon Johnson is quite right: it’s scandalous that Citi chairman Dick Parsons has only about $350,000 of stock in Citigroup — probably the value of a minor farm building abutting his Tuscan vineyard. That gives him every incentive to take outsize risks: his upside is huge, if they pay off, while his downside is barely noticeable for a man of his extreme wealth. It’s long past time for him to get his checkbook out and buy a serious chunk of Citi stock.

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