Sheila Bair, former chairman of the FDIC, said Vikram Pandit's departure as CEO of Citigroup was a "very positive move and the board discharged its responsibilities and I think they should be commended."

In a conversation with Tom Keene and Ken Prewitt on “Bloomberg Surveillance” Tuesday, Bair said: "I did have concerns about Mr. Pandit's qualifications to serve as the CEO of the largest commercial bank, because he had never been a commercial banker."

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