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September 15: Citigroup is among US investment banks who tap the US Federal Reserve's $7.1 billion emergency fund
October 1: Citigroup stuns investors with warning that the credit crunch could push third quarter profits down 60 per cent
October 4: Citigroup offers Britain's own crisis hit mortgage lender, Northern Rock, a £10 billion lifeline
October 12: Chuck Prince announces a management shake-up a week after the bank reveals a $3.3 billion (£1.6 billion) hit from the credit crunch
October 15: The sub-prime crisis knocks 57 per cent off Citigroup's profits
Citigroup is one of three US banks to set up a "super fund" to help hedge funds deal with credit crunch losses
October 31: Merrill Lynch's Stan O'Neal falls on his sword after the bank reveals an $8.4 billion quarterly loss - but a $200 million payoff awaits
Speculation grows Chuck Prince might be the next high profile banking leader to go
November 1: Michael Raynes, Citigroup's financial products chief, leaves after just over a year as losses prompt Citigroup and Bank of America to jettison senior bankers
November 2:
Chuck Prince looks set to resign amid mounting woes
Earlier in the day leading US analyst Meredith Whitney issued a pessimistic note in Citigroup
Whitney's note sends shares into freefall
November 3: Meredith Whitney hits back after receiving death threats
November 5: Robert Rubin is named Citigroup chairman
Citigroup's woes continue: the bank looks set to face an SEC enquiry into its use of SIVs
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Yet another lawyer.
From http://en.wikipedia.org/wiki/Charles_Prince
<i>Prince went to the University of Southern California for his Bachelor's degree, Master's degree, and Juris Doctor. He continued his education going on to receive a Master of Law degree from Georgetown University.</i>
David, Melbourne, Australia
These guys prove the old saying "any fool can make money on a rising market". They got their jobs on the back of a glib tongue, not on actual skill, so why weren't they fired like the poor guy or girl at the front office - with nothing?
David, Dunedin, NZ