While I plan to stay with my Citigroup holding for the long term, it will likely be a long road to recovery in the value of this stock. Today's resignation of Chuck Prince is of course important news. More important is the possibility of an additional $8 - 11 Billion write down due to subprime exposure. As I was reading my previous rationale for owning this stock, I was struck by my comment that Citi's exposure to the subprime mess was limited. It is clear that I had no idea what I was talking about. Still Citgroup is the largest US bank. Is it possible that the sum of the parts is worth more than the whole? If so, it may be that the next Chairman breaks the bank up to release this value. This may take a couple of years or more to play out. Of course at some point the stock will hit bottom. I would not bet we are there yet. At some point I will likely add to my position in Citigroup.