Vikram Pandit, chief executive officer at Citigroup, said that the current market situation is fundamentally different from what the markets experienced during the 2008 global financial crisis. "Although we are seeing some of the signs of 2008 today, I do think it is fundamentally different today than it was back then," Pandit said. "Of course, when you go back and think about what brought all of this on, it was leverage, and we're still living through the impact of leverage." Speaking at an industry conference, Pandit also discussed regulations, "shadow banking" and the congressional supercommittee's efforts.

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