Ex-Citigroup leaders defensive on crisis

Rachelle Younglai and Kevin Drawbaugh

Charles Prince and Robert Rubin, who led Citigroup in the run-up to the 2008 banking crisis, voiced regrets on Thursday, but accepted no responsibility for the mega-bank’s massive losses.

The two came under heavy fire in a congressional panel hearing for being blind to Citi taking on huge financial risks under their watch, leading ultimately to the bank’s near collapse, prevented only by a $45-billion (29 billion pound) taxpayer bailout.

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