Prince Finally Out at Citigroup

You would figure that if a CEO lost $6.5 billion he would be out on his ear alot faster then now. Too bad he took the stock price down to the tune of 38% on his way out the door.

Charles Prince will offer his resignation as chief executive
officer of Citigroup Inc., the biggest U.S. bank, the Wall Street Journal
reported. The shares rose in extended trading.

I was stopped out of this stock quite a while ago but it may be a good beaten down name to jump back into after the smoke clears on their total writedowns. Hopefully they won't need to cut their dividend in order to meet their capital requirements.