You see, Robert Rubin will, apparently, be resigning from Citi.
Update: The Journal has it. To wit:
While Mr. Rubin has defended his performance since joining Citigroup in 1999, insisting that the bank's problems were due to wider turmoil in the financial system, not failures by Citigroup, he is "tired of it," a person familiar with the matter said. Mr. Rubin now wants to focus instead on his non-profit work and other outside interests.
Rubin to Leave Citigroup [The Wall Street Journal]
Earlier: Excellent: Job Loss Remains Within Expectations Bogus: Expectations Were Painfully Low
Much Earlier: Citi Hates Holidays, Toys, Tots
Posted by guest , Jan 09, 2009 3:14PM
Duh! See, that wasn't so painful, Bob!
Posted by guest , Jan 09, 2009 3:21PM
Hm...looks like I won't be getting paid around here any time sool. I'll just take my $115 million and go home.
Posted by guest , Jan 09, 2009 3:22PM
I will miss his smug look, eye brows raised, thinking to himself. "how dare you question me?"
Posted by guest , Jan 09, 2009 3:22PM
"...This is not a decision I have come to lightly"
I bet! Must have been very difficult to walk away from a boat load of money each year for doing nearly NOTHING except destroying value!
Posted by guest , Jan 09, 2009 3:23PM
"...This is not a decision I have come to lightly"
I bet! Must have been very difficult to walk away from a boat load of money each year for doing nearly NOTHING except destroying value!
Posted by guest , Jan 09, 2009 3:25PM
I will miss his smug look, eye brows raised, thinking to himself. "how dare you question me?"
Quick! Bess, post a pic of Sir Robert's infamous stare down.
Posted by guest , Jan 09, 2009 3:28PM
Jesus, they're dropping like flies today. Just give us a "Bernie IS going to jail" flash before 5pm, and happy hour will be very spirited tonight!
Posted by guest , Jan 09, 2009 3:30PM
He is "tired of it"? Awww, poor wubby. It must be hard to take in $100 mil, be part of those responsible for taking down a bank and the layoffs of thousands, and sleep at night.
How did he get paid $100 mil? And can I get a job where my results are -90% (stock price) and get paid $100 mil? How do the Rubins and Gendells do it?
Posted by guest , Jan 09, 2009 3:31PM
He'll probably go start a hedge fund...sell it to Vikram for say $800...become CEO...close down the fund...and then announce that he's a great guy because he's foregoing his bonus
Posted by guest , Jan 09, 2009 3:36PM
Does he get the full Chuck Prince package of"office, executive assistant, and a car and driver for up to five years" too.
Posted by guest , Jan 09, 2009 3:36PM
I love how he is "tired of it" (the criticism), which means he must think his contributions to the firm were just incredibly misunderstood.
Posted by guest , Jan 09, 2009 3:43PM
Rubin is a DB and I don't mean Deutsche Bank.
Posted by guest , Jan 09, 2009 3:45PM
Loser
Posted by guest , Jan 09, 2009 3:53PM
Check out Pouty Bobby when he and his buddies had everyone fooled, most of all themselves. I think this should be lasered into his gravestone the way the russki bad boys do it.
http://www.time.com/time/covers/0,16641,19990215,00.html
Posted by guest , Jan 09, 2009 3:53PM
gasparino:
"we were the first to report this, we've been reporting this for weeks"
"this is an indication citi's got a lot of trouble"
"they have difficulty making money"
Posted by guest , Jan 09, 2009 3:59PM
Gasparino - first at CNBC to pinch Other People's Poop
Posted by guest , Jan 09, 2009 4:05PM
So will our stock price go up now or do I have to wait for the Credit Card division to have a killer year?
Posted by guest , Jan 09, 2009 4:07PM
@17: you will be waiting a looooong time for that, what with the 5% and growing bad ccard debt.
Posted by guest , Jan 09, 2009 4:09PM
So will our stock price go up now or do I have to wait for the Credit Card division to have a killer year?
Posted by guest , Jan 09, 2009 4:12PM
He wants to focus on non-profit work...
work... ...not making a profit...
um...
anyone wanna spike this one? Rubin's set it perfectly...
Posted by guest , Jan 09, 2009 4:59PM
Well that's $50,000/day that Citi gets to save. Maybe we can get the color printers back now?
Posted by guest , Jan 09, 2009 5:10PM
this was so predictable.....guessing there's a hooper/rubin sighting in the seychelles by next weds.
Posted by guest , Jan 09, 2009 5:12PM
this was so predictable.....mark madoff is quite busy these days talking to the feds so guessing there'll be a hooper/rubin sighting in the seychelles by next weds.
Posted by guest , Jan 10, 2009 6:22AM
be careful what you wish for, guys! this guy is chanelling back as commerce secretary in the new obama(but old for you clintonites) administration.