Citigroup Profits Crunched by Credit Woes
Citigroup, the largest U.S. bank, says profit fell 60 percent in the third quarter due to credit and trading losses. Other firms have also suffered from the crisis in credit markets, but it's taking an especially big toll on Citigroup. So it didn't take long for critics to raise new cries for Citigroup CEO Charles Prince to resign. They say he's responsible for the bank's sluggish growth and ballooning costs.
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