Writing was on the wall for Chuck Prince wasn't it?

Writing was on the wall for Chuck prince not just related to the sub-prime crisis and the additional four maybe eight billion of asset write-downs we will see in the fourth quarter or quarter one next year ,but also because the citi, oh, sorry, wall street had questioned severely whether he was the right man in the first place. the succession issue following on from Sandy Weill back in 2003, was never, was never liked by the street.

yeah, their exposure to the subprime market is big but it's not that big,it's enough, it's not enough to cause the major damage to the company.
well,you're both right and wrong in saying it. This is half the problem,we don't actually know what the total exposure to the SIVs, or to the pa(per), to essentially the paper , that is floating around the world so it clearly is substantially higher than I think has been alluded to by Chuck prince in the very confident statement he made a few months ago.

what I most gonna say is that the bigger of the two problems for Chuck Prince was the, was citigroup itself, that the unveiled the nature of the business.

That's absolutely right .I mean, it, to be fair to him, he came in 2003 as a lawyer. And now that's a problem because he had precious little banking experience he was thrust to the Enron issues that didn't help his cost base was far too high the investors don't believe that he has brought that down fast enough and so on and so forth and now we have this the sub-prime situation which is what 3 months old today in terms of the way that markets have given the banking set to the clout, you know a real clouty.yeah we've, this problem will get worse not better.

Stan O'neal last week Chuck prince over the weekend , who's next ?
Well,I think there is a lot of pressure on the Bear Stearns, because Bear Stearns was the, was where this should really came to a head but of course European banks aren't out of the morrow either, I mean BNP paribas they've had, they've had exposure ,Is there a bank in, a major bank in Europe and in the US that hasn't had exposure so all of them will be seriously questioned by the investors, so I think this is the, this is only the start of the pile.

Notes:

SIV: A structured investment vehicle (SIV) is a fixed income maturity transformation fund, similar to a CDO or Conduit.