Robert Rubin, the former Treasury secretary who has been sharply criticized over his role in the financial turmoil at Citigroup Inc., plans to leave the bank and has submitted a letter of resignation, according to a person familiar with the situation.
The shares dropped several percent in the span of 5 minutes following the announcement that Rubin will resign from the company. Support levels to watch as potential downside objectives are at $6.73, $6.63, $6.50, $6.38, $6.28, $6.16, $6.06, $5.97, $5.88, $5.79, $5.69, $5.59, $5.50. Resistance is at $6.80.
Joke rumour on the street is that he was pissed at his bonus.
posted by Peter Greene
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