Chairman and Chief Executive Charles Prince was awarded a $13 million bonus on top of his salary and stock options last year.
NEW YORK (Reuters) -- Citigroup Inc. said Tuesday that it awarded Chairman and Chief Executive Charles Prince $25.98 million in compensation for 2006, about 13 percent more than a year earlier, though costs grew twice as fast as revenue.
Prince was given a $1 million salary, a $13.2 million bonus, $10,633,333 in stock awards, $746,607 in option awards and $395,779 in other compensation, according to the bank's proxy filing with the U.S. Securities and Exchange Commission.
The problem with subprime lenders means there will be more homes in an over-supplied market and not as many people who can step in to make purchases.
NEW YORK (CNNMoney.com) -- Subprime lenders are already getting crushed, but the impact rising mortgage delinquencies will have on home prices overall is still an open question.
At a minimum, it means financing is drying up for those with less-than-perfect credit and that spells fewer home buyers.
And foreclosed properties will add supply to a housing market that already has too much.