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Prince Of The Citi

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by Matt Cooper
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Nov 01 2007 12:00am EDT

Prince of the Citi

Ouch. WIth Citi off nearly 7%, about the only thing good you can say about the stock is that the yield is up over 5.5%. Oh, but one report says they're going to have to cut the dividend because the reserves are low, which is what caused the sell off this morning anyway. I have a little more sympathy for Prince than the Bear or Merrill crowd. His woes seem to be stunning mediocrity rather than excessive faith in dubious financial instruments. But a better guy, I think, would have left some time ago.

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