Citigroup bank boss 'steps down'

[Legal Beagles]

Citigroup boss Charles Prince has resigned, according to reports in the Wall Street Journal.

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[Amethyst]

Re: Citigroup bank boss 'steps down'

''After Mr Prince stepped down, Citigroup revealed that it was facing losses of between $8bn and $11bn in previously undisclosed losses due to a decrease in the value of its $55bn portfolio of sub-prime loans.''

[enaid]

Re: Citigroup bank boss 'steps down'

The sub -prime loans you mention, are they the mortgages lent to people with bad credit and small earnings, the same ones that are losing their homes by the thousands?

[Amethyst]

Re: Citigroup bank boss 'steps down'

that'll be the ones

makes your heart bleed for Mr Prince doesnt it

you see whos replacing him ???