How long until Chuck Prince gets booted? Edit-- I loaded the boat with Oct 45 calls near the close yesterday. Figured I would buy a lottery ticket on him getting booted overnight or today before expiration. Looks like a donation...but you never know!!!
He's not going anywhere soon... he's got too many friends on wall street... Maybe if they have another bad quarter they'll have no choice...
Last I heard Prince wasn't running Wamu or Wachovia. Citi's problems go way beyond Chuck Prince. There's a systemic disease running through the entire U.S. banking system and how it all plays out will be interesting to see. My biggest question is which of the big banks will be the enron of 2008? Hey Ben, gas up that chopper.
It's amazing how people can speculate and take risks with billions of dollars and there's no conseqence as long as they lose enough money to harm the rest of the economy... I guess other banks are going to have to buy Citi's mistakes by putting money into a superfund... lmao. Or the fed will just bail them out until the europeans use the dollar as a replacement to toilet paper... A lot like long term capital management... I guess it goes to show if you're stupid with enough money you can't lose