Citi assures Saudi prince scandals over

[RamboLiberal]

http://www.nydailynews.com/business/story/281178p-240973c.html



Saudi Prince Alwaleed bin Talal, Citigroup's largest shareholder, whose $13 billion stake suffered as it lurched from scandal to scandal for three years, said chairman Sandy Weill and CEO Chuck Prince assured him the worst is over.
"Clearly the market has penalized us," Alwaleed, 47, said in an interview from his home in the Saudi capital of Riyadh. "This is completely behind us now."

Alwaleed has had the most at stake in the company's miscues. Citigroup's role in publishing biased research, the shutdown of its Japanese private bank and expenses to settle lawsuits have cost the world's biggest financial-services company at least $5.5 billion since 2003.

Now, the fallout from $16 billion of trades in European bonds on Aug. 2 may be driving some of Citigroup's customers away. Chief financial officer Sallie Krawcheck said "reputational issues" contributed to a 29% drop in quarterly profit at Citigroup's European securities unit.

Scary who really owns this country!

[Name removed]

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[leveymg]

5. And even worse investors. They predictably lose money.

Guess that's the risk of having too much money lent to you - the factor usually wants it kicked-back.

It's a convenient form of money-laundering. We keep the Saudis around because they're useful middle-men - they allow us to do things with oil revenues that would otherwise be unacceptable if we tried to do it ourselves. There's so much more room to operate with these patsies in place.

[cthrumatrix]

2. one mafia crime boss to another.....

[firebee]

3. Why's Saudi Arabia our ally???

A. Because they're helping us fight the war against terrorism by producing 14 of the 9/11 hijackers and funding terrorists through Saudi Banks and Saudi charity organizations while promoting anti-american sentiment throughout their schools and mosques.

or

B. Because a good number of Republican financiers; such as Citi, Prudential, Morgan Stanley, ChevronTexaco and ExxonMobil; would lose their asses if sanctions were placed on Saudi Arabia, which would freeze the Saudi assets funding these corrupted corporations.

When does a government officials' financial interests conflict with national interests and at what point is this conflict of interest considered treason against the people of the United States?

[Ms. Clio]

6. "at what point is this conflict of interest considered treason

against the people of the United States?"

I don't know, let's ask the Israelis.

[earthboundmisfit]

4. Don't forget, Citibank has taken over a LOT of the credit cards, too...

Many of the credit cards that we've always thought of as "independent" are now Citibank's. Regardless of the address you're billed from, or the one where you send your payment, check the teeny-weeny on the back of your bill, and don't be surprised to see Citibank listed as the main bank. So if you've got your mortgage with (predatory lender) Citifinancial, or you have even one of a BUNCH of the credit cards, every payment made helps the Saudi royal family. Now doesn't that give you a warm, fuzzy feeling? And those Citi "there's more to life..." commercials? Yeah right.