Chuck Prince Gets Grilled: $13 billion or $55 billion Chuck?

Thanks to Huffington Post:
Commission chairman Phil Angelides grilled Rubin and Prince about Citigroup's holdings of toxic securities related to the subprime market. In the below clip, Angelides questions Prince about Citi's exposure in the fall of 2007.

At issue is whether or not Citi told analysts that the bank's exposure to subprime mortgage market was actually much smaller than it was admitting internally.

Analysts were told that Citi had $13 billion in subprime exposure -- but an Citi's board and audit committee were told that the bank's exposure was more than $50 billion, Angelides said.

Prince's response, if you can call it that, was essentially non-committal and evasive.