Felix Salmon
pestering preening potentates
Dick Parsons datapoint of the day
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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That link is interesting but I don’t think it’s the one you meant to use.
Oops! Sorry, fixed.
Actually, let’s see him buy a big chunk of subordinated debt and/or preferred stock.