Post by enoughalready on Nov 4, 2007 21:24:47 GMT -5
money.cnn.com/2007/11/04/news/companies/citigroup_prince/index.htm?postversion=2007110419
NEW YORK (CNNMoney.com) -- The meltdown in the housing market hit Citigroup, the nation's No. 1 financial services company, Sunday as it announced the departure of chairman and chief executive Charles Prince and a possible $11 billion in additional subprime writedowns.
"It is my judgment that given the size of the recent losses in our mortgage- backed securities business, the only honorable course for me to take as chief executive officer is to step down," Prince said in a statement issued by Citigroup. "This is what I advised the board."
NEW YORK (CNNMoney.com) -- The meltdown in the housing market hit Citigroup, the nation's No. 1 financial services company, Sunday as it announced the departure of chairman and chief executive Charles Prince and a possible $11 billion in additional subprime writedowns.
"It is my judgment that given the size of the recent losses in our mortgage- backed securities business, the only honorable course for me to take as chief executive officer is to step down," Prince said in a statement issued by Citigroup. "This is what I advised the board."
>:(I want my cmkx money so I can buy a bigger one... 
:PA bigger one with a front yard I can sit inthe middle of and clip with shears...