"Mr Prince's four year tenures as Mr Weill's successor ended yesterday wit hte bank engulfed in problems stemming from massive write-offs due to the turmoil in credit markets" (WSJ).
I like the "turmoil in credit markets". Couldn't have been caused by Citigroup speculating in subprime mortgages, deals that involve lending long and borrowing short. No, it's something beyond Citigroups control, "turmoil in the credit markets", an act of God, like the weather, for which no blame can be attached.
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