It's bad enough these days to be an out-of-work former bank CEO. But it's just adding insult to injury whenever a former bank CEO can't sell his house, isn't it? Perhaps. It also might be a form of poetic justice, but that's not for us to decide. We bring this up, because the word out of New York today is that former Citi chief Chuck Prince III is having a hard time unloading his 2.3 acre mansion in gilded Greenwich. Via Bloomberg's Sharon Lynch:
Prince's five-bedroom Tudor-style house in Greenwich, Connecticut, has been on the market for six months. He has cut the price by $300,000 to $5.85 million, according to the property listing.
Given that he paid $4.48 million, we don't think he has to worry about losing money on the deal. But this is certainly eating into that proverbial golden parachute.