The interrogation of Charles Prince, former CEO of Citigroup (NYSE: C), and Robert Rubin, former head of the bank board's executive committee, made for great drama. Both men faced tough questioning but dealt with it in different ways. Prince's strategy was to shame himself repeatedly. He broke with his script to offer what he hoped would come across as a heartfelt apology.

Rubin on the other hand never quite accepted personal responsibility, according to the New York Times. And "after three hours of testimony, Mr. Prince emerged as dignified, sympathetic and even statesmanlike. Mr. Rubin, the consummate wise man of Washington and Wall Street, looked drawn and demoralized." Several members of the commission were especially tough on Rubin, not buying that he wasn't a major decisions maker. At one point, Prince stepped in to defend Rubin. On several points, Rubin got a bit testy with his questioners.

What will all of this achieve? As of now, it does not look like any executives or directors of the too-big-to-fail banks will be held accountable, apart from reduced reputations. Lehman Brother's Dick Fuld remains the best bet, but even that is not likely at this point. Perhaps the most that angry shareholders can hope for is legitimate reform. 

For more:
- here's the article  
- Prince finally explained his awkward dancing comment

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