The hits keep on coming for Citigroup. The latest: Meredith Whitney of CIBC World Markets downgraded Citigroup to underperform and said the stock will likely come under more pressure soon. Her view is that it could fall another 25 to 30 percent. According to the New York Times, she has also pointed out a troubling fall in capital levels. They are at their lowest levels in decades after some acquisitions. Its tangible capital ratio is just 2.8 percent; that's about half of other banks. So the pressure on CEO Charles Prince is really intensifying, enough so that board members seem to be making a concerted effort to support him. You have to wonder when the board will make a change. Stanley O'Neal certainly wasn't given these opportunities to fail and recover. 

For more: 
- here's the New York Times article 

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