The collapse of Citibank is now the stuff of financial legend. As Citi group lays off employees and sells off its assets, what of the man at the helm? Citibank CEO Vikram Pandit took charge of the megabank just as things started to fall apart and he has barely held onto his job. As the meltdown took hold, Citigroup’s board offered the government his head in exchange for the billions in bailout money. Then, President Obama himself publicly rebuked him for ordering a new $50 million jet. New York Magazine's Joe Hagan joins John with a look at what it's like to be a bank CEO as the banking system collapses.

For more, read Joe Hagan's fascinating portrait of Mr. Pandit, The Most Powerless Powerful Man on Wall Street in New York Magazine.

In a recent interview with Charlie Rose, Vikram Pandit discussed the impossibility of failure: