Citi Needs More Than Prince to Avoid Pauper's Grave

Updated from Thursday, Nov. 20

Citigroup (C Quote) shares have been beaten to such a pulp lately that even a vote of confidence from its onetime savior may not be able to save the struggling banking titan.

Saudi Prince Alwaleed said Thursday he plans to increase his stake in Citi to 5%, and expressed support of the bank's management.

Prince Alwaleed, who currently holds less than a 4% stake, has been buying shares of Citi believing they are undervalued. The longtime Citi investor said in a press release that the New York-based bank has been taking necessary steps to improve its operations amid the ongoing credit crisis. ...