By Bruce Baker In the months leading up to the crash of 2008, Chuck Prince, CEO of Citi, was asked to justify his firm’s bullish appetite for leveraged lending. He acknowledged the risk of an impending liquidity crunch, and yet explained that he really had no other option but to play along with the rest of the market: “[As] long as the music is playing, you’ve got to get up and dance. We’re still dancing.” Prince’s glib remark reveals a... Read more