LATICONOMICS (Free subscription) | 11/24/2009
Goldman Sachs: the case for the defence By William Cohan Let us now praise Goldman Sachs , for the sole reason that it and it alone among the major, capital-intensive Wall Street institutions – both recently deceased and still living – actually understands something about risk and risk-taking. By his own admission, Lloyd Blankfein, Goldman’s chief executive, ranks risk management...
DealBreaker (Free subscription) | 11/06/2009
H.L. Mencken famously said, "no one ever went broke underestimating the intelligence of the American public." But Citigroup's hedge fund and private equity business seems intent on proving the great skeptic wrong. An awful lot has gone wrong at C in recent years, so maybe the woes of Citi Alternative Investments have passed by your notice. Allow us to recap: Seeking a potential successor...
Daily Intelligencer - New York Magazine (Free subscription) | 11/04/2009
When the inimitable CNBC reporter Charlie Gasparino announced the title of his new crisis epic, The Sellout: How Three Decades of Wall Street Greed and Government Mismanagement Destroyed the Global Financial System , to his friend Teddy Forstmann, the financier was skeptical. "So what you're saying," Ted said, "is that somewhere along the line, Wall Street as an institution had some...
DealBreaker (Free subscription) | 10/02/2009
BofA Board Weighs 'Short-Term' CEO (WSJ) One gets the impression they're slightly miffed with Ken Lewis: "We don't want to go through what Citi went through," one director told a person close to him. That is a reference to two months in late 2007 when Citigroup Inc. was rudderless following the departure of CEO Charles Prince. "If we had more" notice of Mr. Lewis's departure, "we...
The Business Insider (Free subscription) | 10/01/2009
Bank of America's board is reportedly considering an interim CEO, which would give more time for internal candidates to be groomed. This also reflects the board’s lack of preparation for Lewis's resignation. It does seem they were taken by surprise. Earlier, Lewis had said he would stay in place until the bank paid off TARP. From the Wall Street Journal : "We don't want to go through what...
DealBreaker (Free subscription) | 08/20/2009
According to Chaz, something's eating away at former Citigroup consigliere Bobby Rubin. Something that absolutely torments him. Tears him up inside. Prevents him from getting a solid 8 hours. Gives him indigestion. Moment's pauses. Could it have something to do with the sticky economic situation he might've had a hand in getting us into? Sort of but not really. The problem, Gaspo reports , isn't that...
Grasping Reality with Both Hands (Free subscription) | 06/03/2009
The Chicago School is eclipsed - THE WEEK: ---- Richard Posner, leader of the Chicago School of Economics and Fourth Circuit Court of Appeals judge, uses his new book, “A Failure of Capitalism,” to try to rescue the Chicago School’s foundational assumption that the economy behaves as if all economic agents and actors are rational, far-sighted calculators. In some sense, Posner must...
Outstanding Investment, Top stocks (Free subscription) | 03/10/2009
When Dick Fuld drove Lehman Brothers into the ground... They "punished" him with a $35 million bonus. How about when Chuck Prince helped Citigroup burn through billions? He got a hefty cash going away present of $39.5 million. Stan O'Neal from Merrill Lynch trumped them all. When he got canned, they gave him $161 million. And what did you get? How about a chance to "get even?"
Libertarian Democrat Point Of View (Free subscription) | 03/09/2009
From Felix Salmon: " Geithner to Citi? I'm late to Joe Hagan's profile of Vikram Pandit , and especially this intriguing passage about the decision about whom to replace Chuck Prince with as CEO of Citigroup: Rubin immediately lobbied to have Pandit replace him, but there was unexpected resistance from a number of board members, including Alain Belda, chairman of Alcoa, and C. Michael Armstrong,...
SeekingAlpha.com (Free subscription) | 03/09/2009
Felix Salmon submits: I'm late to Joe Hagan's profile of Vikram Pandit , and especially this intriguing passage about the decision about whom to replace Chuck Prince with as CEO of Citigroup: Rubin immediately lobbied to have Pandit replace him, but there was unexpected resistance from a number of board members, including Alain Belda, chairman of Alcoa, and C. Michael Armstrong, the former AT&T...
Market Movers (Free subscription) | 03/09/2009
I'm late to Joe Hagan's profile of Vikram Pandit , and especially this intriguing passage about the decision about whom to replace Chuck Prince with as CEO of Citigroup: Rubin immediately lobbied to have Pandit replace him, but there was unexpected resistance from a number of board members, including Alain Belda, chairman of Alcoa, and C. Michael Armstrong, the former AT&T CEO, who did not believe...
FelixSalmon.com (Free subscription) | 03/09/2009
I'm late to Joe Hagan's profile of Vikram Pandit , and especially this intriguing passage about the decision about whom to replace Chuck Prince with as CEO of Citigroup: Rubin immediately lobbied to have Pandit replace him, but there was unexpected resistance from a number of board members, including Alain Belda, chairman of Alcoa, and C. Michael Armstrong, the former AT&T CEO, who did not believe...
Counterfire blogg (Free subscription) | 03/06/2009
Sure Chuck Prince is gone - along with his platinum parachute worth tens of millions - but his hands are all over this failure. Current Citi CEO Vikram Pandit is not much better but the ground work for this collapse sits squarely in the hands of Charles Prince. When is someone going to ask for [...]
AMERICAblog (Free subscription) | 03/06/2009
Sure Chuck Prince is gone - along with his platinum parachute worth tens of millions - but his hands are all over this failure. Current Citi CEO Vikram Pandit is not much better but the ground work for this collapse sits squarely in the hands of Charles Prince. When is someone going to ask for the money to be returned from him? Stanley O'Neal, Angelo Mozilo ought to be on the list as well. This is...
DealBreaker (Free subscription) | 02/24/2009
$$$ 'Johns' go to school , get charges dismissed [Charlotte Observer] $$$ Latest calculator on nationalization [BV] $$$ Grassroots : I am with Rick. [FW] $$$ Checking in on Chuck Prince's Golf Game [Cityfile] $$$ Barney Frank Demands Immediate Repayment Of Northern Trust Boondoggle Money [zero hedge]
The last article published by a user on Charles O. Prince :
beris | 11/05/2007
According to all news media, Citigroup ‘s ( C ) CEO Chuck Prince is finally due to resign today. They all say it's been long overdue, and we’ve heard it first from Jim Cramer some time ago that he needs to go in order for Citi to recover its tragic long-time decline in share price and market cap value. If it indeed happens, and I’m sure it will as Prince is under immense pressure from multiple sides,
Videos