US Taxpayers again forced into giving huge profits to the Middle East -
By Daniel at 6 December, 2009, 10:09 pm
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“Kuwait Investment Authority sells stake in Citigroup for £2.4bn after just two years
Kuwait’s sovereign wealth fund has sold its stake in Citigroup for $4.1bn (£2.4bn) just two years after it invested in the US’s largest bank.
By Ben Harrington
Published: 7:39PM GMT 06 Dec 2009
The KIA made its $3bn investment in Citi as struggling banks looked to the oil-rich Gulf as a source of capital. The Kuwait Investment Authority (KIA), which manages state assets for the world’s fourth-biggest oil exporter, is estimated to have made a $1.1bn profit on its investment – a 37pc return….”
How do you invest in C in 1/08 with the stock at $30 and sell now with it at $4 and make a 37% profit? Now that is creative accounting, otherwise, know as lying BS. They must send their accountants over here to learn from the experts in fraudulent accounting…the corrupt U.S. government, PRIVATE central bankers and wall street. BTW, the reason they sold is because C is going to lose the $8B they invested in Dubai for screwing the UAE on their investment in C. Defaults between the corrupt financial institutions and the rest of the world that they peddled garbage to our going to come back to us in spades and we deserve it. Think karma. Also, wait and see how the big treasury auction goes this week. The rest of the world has had it with us and will boycott buying our debt. Hello high interest rates regardless of what our corrupt government and fed do. GREATER GREAT DEPRESSION. S&P 209. REVOLT AMERICA!!!
- VIP
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