Unexplained Mysteries: Why Chuck Prince Still Has A Job

03/28/2008 02:45 am ET | Updated May 25, 2011
  • Dealbreaker

Here's are a bunch of things that Chuck Prince has done since he became CEO of Citigroup that could be characterized as "dumb" (many courtesy of Duff McDonald who, unlike Prince Alwaleed, is keeping count. It is by no means comprehensive). :

- He's said some stuff that makes him sound like he has no idea what he's talking about. ("In July, Prince injudiciously announced that Citi would continue "dancing" to the music of the buyout boom until it stopped. Less than a month later, the roof was falling in on the dance hall.")

- He's exhibited little-to-no follow-through (In 2005, Prince sent out a lot of emails about how the bank should "maintain positive operating leverage" but didn't actually get around to doing it 'til 2007).

- He got rid of the guy keeping Maria Bartiromo's ass in his direct line of vision.

- He more or less encouraged a lot of talent, including former co-chief Bob Willumstad and Marge Magner, head of the company's consumer-banking unit, to give JP Morgan a chance.

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