Citigroup CEO takes home $26 million in 2006
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.
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Scary math: More homes, fewer buyers
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.
Current Mortgage Rates |
| Type | Overall avgs |
|---|---|
 | |
| 30 yr fixed mtg | 5.68% |
| 15 yr fixed mtg | 5.44% |
| 30 yr fixed jumbo mtg | 6.00% |
| 5/1 ARM | 5.45% |
| 5/1 jumbo ARM | 5.63% |
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And foreclosed properties will add supply to a housing market that already has too much.
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live, die.
