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The man named Prince is Chuck Prince, who lost his job as Citigroup CEO on Sunday, Nov. 4. The immediate precipitating event was $8 billion to $11 billion (they don't know for sure yet) in fresh losses for his company related to subprime mortgages. Stepping down, Prince said, was...

Author: /time Magazine | Title: Assessing the Mess at Citi | 11/8/2007 | See Source »

The music stopped for good the day Prince resigned, when Citi announced that it had $55 billion in subprime-related securities, mostly CDOs, still on the books. It also disclosed that it's holding almost $135 billion in securities for which there are no observable market prices--meaning that their...

Author: /time Magazine | Title: Assessing the Mess at Citi | 11/8/2007 | See Source »

His biggest obstacle remains Mbeki. When Zuma's financial adviser was convicted of corruption related to defense contracts in 2005, Mbeki sacked Zuma as Deputy President. And this year Mbeki has actively campaigned against Zuma. When a top party leader behaves like a "rascal," he told Parliament, "I can stand...

Author: /time Magazine | Title: The Contender | 11/8/2007 | See Source »

Fortunately, we peons have our cunning UC advocates to defend our bureaucratic birthright. “The Faculty has placed in [UC-appointed committee members] the responsibility for recommending to it policies related to student life and house life, respectively,” declared SAC Chair Michael R. Ragalie ?...

Author: By Adam Goldenberg | Title: Multi-Tasked | 11/8/2007 | See Source »

Last month, one undergraduate sent in her application to the prestigious Fulbright Program as a junior. At least, that’s what her transcript said. Truth be told, Denise L. Delaney ’08 isn’t a precocious junior, but rather a disgruntled senior. Returning from...

Author: By Guillian H. Helm, CONTRIBUTING WRITER | Title: A Sticky Situation | 11/7/2007 | See Source »

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