Citi Never Sleeps,' Says the Bank's Advertising Slogan. But Its Directors Apparently Do...

....so says WSJ, as the Rupert Murdoch media empire has gone into attack mode against the Citigroup board of directors.

A New York Post editorial is calling for all of the directors to be removed and the Wall Street Journal saying most of them did not deserve to remain. Murdoch owns both papers.

Says WSJ:

When taxpayers are being asked to provide the equivalent of $1,000 each in guarantees on Citi's dubious investments, how can these men possibly deserve to remain on the board?

WSJ calls for the resignation of Chairman Sir Win Bischoff, who has held senior positions at Citi since 2000, and seven fellow directors, former Treasury Secretary Robert Rubin, John Deutsch, Richard Parsons, Franklin Thomas, Michael Armstrong, Alain Belda, and Kenneth Derr, who have all served for more than 9 years.

NyPo keeps things simple.

The Headline: BOUNCE THESE BOZO BANKERS

The Conclusion:

There should be no mistake about where the responsibility resides.

That would be with the Citigroup board of directors - and Robert Rubin in particular.

Citi Chairman: Housing Prices Could Fall For Two More Years

Citigroup chairman Win Bischoff has warned that house prices in Britain and the United States are likely to keep falling for another two years.

Bischoff told the BBC in an interview that he expects it will take two years for the markets to stabilise.

He also said he expected the credit crunch could continue through until 2009.

No further details were released of the interview which is due to be broadcast later on Saturday on the BBC News Channel.