Hey, you've got to do something. I mean you can't just weather the losses and not make changes. It doesn't look good. Charles Prince finds himself in the unenviable position of having to figure out who to blame for the $3.3 billion in 3Q credit-related losses the banks booked. A review is underway, and Prince will review the results before lopping any heads, according to the Financial Times. Critics contrast the deliberate approach with UBS's sweeping management revamp after announcing $3.7 billion in write downs. All in all, I like the circumspect approach. No need to toss the baby with the bathwater. But I think he has take enough action that it is seen as definitive. Lord knows he has enough critics.  

For more:
- here's the Financial Times article

Related article:
- Citigroup to take large write down