Chuck Prince and Robert Rubin on Thursday apologised for Citigroup’s severe losses on mortgage-related securities but insisted that there was nothing wrong with the company’s risk management ahead of the financial crisis. Both men also claimed there was a widespread belief within the bank that their holdings of mortgage-related securities were safe investments, but the congressional commission on the financial crisis did not appear convinced, the FT said.

This entry was posted by Stacy-Marie Ishmael on Thursday, April 8th, 2010 at 20:33 and is featured in The 6am Cut London (9 Apr 2010), The Closer (8 Apr 2010), The Lunch Wrap (9 Apr 2010) . Tagged with chuck prince, citi, citigroup, FCIC, robert rubin. Edit this entry.