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Read it at The Washington Post
Might a slew of bank CEOs soon be following former GM chairman Rick Wagoner out the door? According to The Washington Post, “the president's aggressive move against GM has left some banking executives wondering whether they are next in line.” So far, the government has only replaced CEOS at financial institutions it controls—AIG, Fannie Mae, and Freddie Mac. The Wall Street Journal reports, meanwhile, that the government has considered removing Citigroup CEO Vikram Pandit in the past but left him due to lack of better options. If President Obama decides to replace any bank CEOs, it is likely that he will do so at the end of April, when the government finishes its “stress tests” of banks’ solvency.