Monday, June 29, 2009

Do you know who this man is?

Citi drones do. This was the man who rescued Citi in 1991 when Citi was still a company worth rescuing. His was a private bailout rather than the federal bailout Citi recently received. His name is Prince Alwaleed Bin Talal Bin Abdulaziz al-Saud of Saudi Arabia and he was Citi's largest shareholder until Mommy and Daddy came along. His reward, his shares were recently valued at 623 million this February, a 90 percent decline from what they were worth at their peak. Do the math. My guess is though he may publicly say all the right things, he is not so pleased with Uncle Vik these days.

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