Prince Alwaleed Loses 19% of Wealth on Global Slump [Jesse’s Café Américain]
“Dec. 14 (Bloomberg) — Prince Alwaleed bin Talal, Citigroup Inc.’s largest individual investor, lost 19 percent of his personal wealth in the past year as the global economic slump reduced the value of banking and property assets, according to Arabian Business.”
Coinky-dinkily, Shiti announced today they are going to front Dubai state-owned companies over $8 billion (gee, that didn’t come from Shiti’s ~$10 billion in TRAP funds did it? Or is that going to pay Shiti exec’s $7B in bonuses for a job well done?)
That .gov mandate to recycle has far-reaching tentacles:
Dubai state-owned companies get over $8 bln from Citigroup [xinhua daily]
ABU DHABI, Dec. 15 (Xinhua) — Dubai state-owned companies has gotten more than 8 billion U.S. dollars of financing from U.S. banking giant Citigroup in recent months, the website of Arabian Business quoted the bank as saying on Monday.
Log-rolling in our time.
“Why is our government penalizing the people who played by the rules and rewarding the people who didn’t?”