Robert Rubin Named Citi Chairman Amid Bank's Troubles

Robert Rubin Named Citi Chairman Amid Bank's Troubles

Throughout a long, public career, Robert E. Rubin spanned the highest reaches of Wall Street and Washington, and succeeded wherever he went.

Now he may be facing his most difficult challenge -- helping to revive Citigroup, which said yesterday that it would take an additional $8 billion to $11 billion write-down related to subprime mortgages, on top of the $5.9 billion reported in early October.

The unexpectedly large write-down, which could wipe out fourth-quarter earnings, underscores the disarray at Citigroup, the once-proud institution built by the financier Sanford I. Weill, and the deepening crisis in the broader housing and credit markets, which threaten to weaken the overall economy.

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