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Breaking:Citi-Group About To Release Enron Like Problem
FOX,CNBC
| 7-22-02
| my favorite headache
Posted on 07/22/2002 11:39:57 AM PDT by My Favorite Headache
Radio and I just see FOX reporting this. Big lender to worldcom and other giants...in trouble.Markets now back to falling...here we go.
TOPICS: Breaking News; Crime/Corruption; News/Current Events
KEYWORDS: citigroup; enron; robertrubin; worldcom
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To: Orangedog
be the nail in the coffin that could very well take the Dow down to 7000.
I hope so! Like Jerry Seinfeld said on his show the best way to take a band-aid off is one motion, right off! Get all the warts out there and start over. People will have faith in the market. Well until the next crook becomes a CEO.
101
posted on
07/22/2002 12:27:00 PM PDT
by
lelio
To: hove
It all comes down to the fact that the country was clintonized and now we are paying big time.
To: RCW2001
This is the same Citi Group that Saudi Prince Alwaleed (who's $10M check was returned by Giuliani) invested billions. The prince owns about 6% of Citicorp.
To: My Favorite Headache
EDITORIAL March 3, 2002
Enron and Robert Rubin
Precisely when did Howell Raines the newly appointed, reputedly hard-charging executive editor of the New York Times turn the newspaper's front page over to the PR department at Citigroup? Hard to say, but the love affair seems to be real. One recent story in the New York Times began with the observation that Mr. Rubin, a former treasury secretary in the Clinton administration, "has not abandoned his role as globe-traveling statesman." Get it? Statesman. Having established the diplomatic bona fides of Mr. Rubin, who now collects $800,000 per week as chairman of Citigroup's executive committee, the Times then ever-so-gingerly broached the understandably touchy subject of the tactics deployed by Mr. Rubin late last year in a telephone call to the highest-ranking Democrat in the Bush administration's Treasury Department.
On Nov. 8, Mr. Rubin called Peter Fisher, undersecretary for domestic finance, on behalf of the collapsing Enron Corp, which just happened to owe Citigroup an estimated $1 billion. According to a Treasury Department statement, which Mr. Rubin has confirmed, he beseeched Mr. Fisher to intercede for Enron's benefit with the credit-rating agencies, which were poised to downgrade Enron's debt to junk status. The debt downgrade would have forced the already-teetering Enron to make an immediate payment of hundreds of millions of dollars in debt, a development that would have then forced Enron to file for bankruptcy. To his everlasting credit, Mr. Fisher rejected Mr. Rubin's strong-arm tactics, and Enron's debt was appropriately downgraded. More...
104
posted on
07/22/2002 12:29:13 PM PDT
by
kcvl
To: Shermy; b4its2late
105
posted on
07/22/2002 12:30:13 PM PDT
by
Dog
To: Linda
To: Oldeconomybuyer
The expression on Rubin's face in the pic in #44 looks like he's fillin' his drawers.
To: My Favorite Headache
Sunday, Jan. 13, 2001 12:30 p.m. EST
Dingell: I'll Grill Rubin on Enrongate Calls
Michigan congressman John Dingell, the ranking Democrat on the House Energy and Commerce Committee, said Sunday he intends to call former Clinton administration Treasury Secretary Robert Rubin to testify in upcoming hearings into the collapse of energy giant Enron.
Dingell was asked by "Fox News Sunday's" Brit Hume whether he intended to question the former Clinton official after reports of his involvement in the scandal surfaced on Friday.
"If you watched me when I ran investigations, and I ran a lot of them and they were very, very effective, we had everybody in and we saw to it that we got all the facts," Dingell said, before adding, "Absolutely, yes."
Late last year as the energy giant was sliding into the financial abyss, Rubin reportedly attempted to intercede with the Bush Treasury Department.
More...
108
posted on
07/22/2002 12:31:32 PM PDT
by
kcvl
To: My Favorite Headache
I'm American, not a Brit, so I don't have the necessary knowledge to answer your question. I'd be surprised if Blair could be tossed out with the huge majority Labour has in Parliament. If he were, I would expect him to be replaced by Gordon Brown, the (Labour, of course) Chancellor of the Exchequer.
To: RCW2001
So the Saudis are dumping money in to prop up Rubin's bank. Think the people of America are getting jerked around?
To: RCW2001
You know any other stocks Prince Talal owns? Short them!
111
posted on
07/22/2002 12:32:13 PM PDT
by
Shermy
To: My Favorite Headache
Oh, man....
To: cactusSharp
DID YA HERE THAT REPUBLICANS ?What, a Republican hearing about dirt that a 'RAT could be involved in? The same Republicans who haven't heard that the Clintons have pardoned terrorists and sleaze balls of every other type crime also? The same Republicans who haven't heard that the Clintons rented out the Lincoln Bedroom to Chicoms for 8 years? The same Republicans who haven't heard about McAuliff's and Dashcle's shady investments with Global Crossing? The same Republicans who haven't heard that the 'Toons sold missiles to the Chicoms? That wimp Trent Lott and 'Rat butt kissing buddies don't want hear about this any more than they want to hear about other 'RAT shennanigans.Justice is blind, but the GOP is deaf!
113
posted on
07/22/2002 12:33:48 PM PDT
by
putupon
To: Joe Hadenuf
I just forwarded on the WSJ article to Sean Hannity.
114
posted on
07/22/2002 12:34:05 PM PDT
by
mware
To: mhking
Do you really want air time on this ride?
Me, personally? No. But watching a few former residents of D.C. and current squatters in the Senate come off their seats and slam back into them on the way up to the next drop...that'll be fun. On this ride, those twisting in the wind have no shoulder restraints. Hopefully.
To: steveegg
Investing
Prince Alwaleed: The Anti-Buffett?
Davide Dukcevich, 03.11.02, 12:41 PM ET
Alwaleed today announced that he recently acquired more than $1 billion in stocks, including a $500 million stake in Citigroup (nyse: C - news - people ), adding to his 3.8% interest in the world's biggest bank. (See: Saudi Prince Buys $1B Citigroup, AOL, Priceline) The Prince's holdings in Citigroup constitute roughly half of his $20 billion net worth. "At about $43, Citi's share price was at too attractive a price," Alwaleed said in a release issued by his company, Kingdom Holdings.
116
posted on
07/22/2002 12:35:52 PM PDT
by
kcvl
To: My Favorite Headache
To: cactusSharp
You think? Had this been, say, ExxonMobil, it would bve the only thing being talked about, and the Dow would be down 360 instead of 160.
To: My Favorite Headache
His investments, built up since 1979, are held through investment company Kingdom Holding Company, of which he is chairman.
They include 5% of banking giant Citigroup, 25% of Four Seasons Hotels and Resorts, 25% of Disneyland (Europe), 5% of Trans World Airlines, 16% of Planet Hollywood, 17% of Daewoo Corporation, 7% of Hyundai Motor Corporation, 1% of Motorola, 5% of Netscape, 6% of Saks Fifth Avenue, 10% of Canary Wharf, 5% of Apple Computers and many others, including a few hotel chains.
He also holds 30% of Mövenpick Hotels & Resorts, which has a controlling stake in the troubled SA hotel group Karos, the prince's first investment in SA.
119
posted on
07/22/2002 12:37:13 PM PDT
by
kcvl
To: kcvl
Whew!
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