............and neither do any of their investors it would seem, given the way the stock has tanked!!!
The Government of Singapore, the Abu Dhabi Investment Authority, the Kuwait Investment Authority and Prince Alwaleed bin Talal of Saudi Arabia have all seen their investments slide sharply in value.
A few weeks ago, I commented on the lack of interest from Sovereign Wealth Funds to invest in global financial institutions. Do they know something that we don’t!!
A year ago, these guys were stepping up to the plate as white knights, but now they seem to have abandoned these ‘emergency one time cash infusions’ in institutions that are losing money faster than the automakers.
The management has tried to reassure panic stricken investors, but after the Lehman Brothers debacle, no ones taking any chances.
CITIGROUP vs. GM
If push came to shove, which one would they bailout?
White-collar jobs vs blue-collar jobs?
Could the Fed & Treasury risk a collapse at Citigroup?
Are we in for a ‘Bailout Weekend’, and could we expect a government rescue by Monday?
WATCH THIS SPACE!!!