There aren’t many bullets left. The Federal government hasn’t done much to restore confidence. Warren Buffett is now putting out his own fires. And we’re long post the point where a company can get a lift just by coming out with some statement in defence of their own balance sheet. Who is there out there that can step up and provide a jolt of confidence?
Maybe Saudi Prince Alwaleed, the longtime Citi investor whose stake has been both crushed and diluted. Today comes word that he’s upping his stake in the company — not much mind you, from 4% to 5%, but it’s something and he made some noises about having “full confidence” in the company.
It’s not much to hand your shirt on, but what else is there at this point?
Citi Kills The SIV, Investors Kill Citi
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