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Will Robert Rubin step down at Citigroup?

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Citigroup
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Charles Prince
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In the past, Robert Rubin has described himself as Citigroup's consigliere. But the credit crunch has not been kind to the big bank, and there has been persistent speculation as to whether he would resign as chairman of the executive committee. The New York Times says he's not stepping down, but one insider told the paper a change in job titles may be in order. It's fair for shareholders to ask what role Rubin played as the bank's struggles mounted. CEO Charles Prince, of course, departed in ignominy. Rubin defends his performance, noting that few could predict the perfect storm that hit banks hard. He's still a rock star in the banking world. He'll likely survive.  

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

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Comments

US has military, police, Intel in any news room,.. it does help to get a good reputation when you are its manager. The private sector is different approach, if you are a failure, people will read that and more, Here you are called to be truly accountable of your actions and people you choose. That said, Secretary Rubin, 5 CEO's in 9 years, same old and repeating comments of support of failed Chosen CEO while the income margins are going south, is good reason for him to accept a lesat the responsibility of repeated bad choices of many bad CEOs (from a losing confidence and money cult) and resign with a lot of cash in your pocket.
Secretary Rubin, for the last 9 years, you have shown signs of losing this PA and 16th Ave NW charm, save your reputation and citi-group shareholders stakes at citi-group, please resign now, it is already too late
Arthur Mboue, JD, MBA

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