Word: citigroup
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There was Bank of America chief Ken Lewis, who, after reporting setbacks in his attempts to turn the bank into a major force on Wall Street, declared, "I've had all the fun I can stand in investment banking at the moment." And after Citigroup announced a nearly 60% drop in earnings, Deutsche Bank analyst Mike Mayo more or less asked CEO Chuck Prince why he hadn't been fired. Prince's response: "If you look at the strategic plan that we are executing on, I think any fair-minded person would say that strategic plan is working...
...leading men managed to stay dry during the ceremonies—even without divine assistance. Corporation Fellow Robert E. Rubin ’60, one of the Harvard Corporation members who elected Faust as president, did not appear to be in attendance. The 69-year-old Citigroup chairman has made a habit of missing ceremonies in Cambridge...
...offing. They were right. But those who actually worked in the business of writing, packaging and investing in mortgage loans couldn't act on such concerns and expect to stay employed. There was too much money to be made running with the herd. Or dancing with it, as Citigroup CEO Charles Prince put it in a memorable July interview. "As long as the music is playing, you've got to get up and dance," he told the Financial Times. "We're still dancing." Now the mortgage-lending party is over, and housing markets may feel the hangover for years...
...Citigroup Inc. $712 billion...
...Fergusson, computer science professor Susan L. Graham ’64, former Duke and Wellesley president Nannerl O. Keohane, Georgetown Law professor Patricia A. King, Boston lawyer William F. Lee ’72, economist Robert D. Reischauer, University Treasurer James F. Rothenberg ’68, and Citigroup chairman Robert E. Rubin ’60, a former Treasury secretary and close friend of Summers...