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http://online.wsj.com/article/SB120304381506270735.html?mod=hpp_us_pageone

Citigroup Fund Bars Exit

by Investors after Bad Bet

 

By David Enrich

Friday, February 15, 2008  |  Companies Featured in This Article: Citigroup, Morgan Stanley

 

Citigroup Inc. has barred investors in one of its hedge funds from withdrawing
their money, another black eye for the financial behemoth's troubled foray into
new types of investments.
.
Citigroup suspended redemptions in CSO Partners, a fund specializing in
corporate debt, after investors tried to yank more than 30% of the fund's
roughly $500 million in assets. To stabilize the fund, which had an 11% loss
last year, Citigroup last month injected $100 million. The fund's longtime
manager, John Pickett, has left, following a bitter dispute with Citigroup
executives and complaints from investors that he put too much money into ...”

- - - OFF - - -

Ed Cage | 1804 Cross Bend, Plano Texas 75023  |  ecagetx@gmail.com  |  972-596-4363

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Guess there will be more law suits filed over that too now!  Who cares about Citibank they are Saudi controlled I think last I look it was over 15%.  only ones to really worry now are both Larry's, one buying bull in Ohio and the giving bull from Houston!
 
 
 

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Gary Wait wrote:

"Guess there will be more law suits filed over that too now!  Who

cares about Citibank they are Saudi controlled I think last I look it

was over 15%.  only ones to really worry now are both Larry's,

one buying bull in Ohio and the giving bull from Houston!"

 

As I’ve said before let us not feel sorry for the Saudi ultra-deep pockets like

those of Abu Dhabi Investments. Anyone who looks at the fine print on the
Citigroup bail-out by Abu and company will be stunned at how one sided the
deal actually was! 

FACT: Citigroup was desperate and went to the Abu Dhabi Palace hat in

hand. Abu and company snapped off the highly distressed and vulnerable
CitiGang in one of the most lop-sided deals in history. Indeed the Saudi

contingent didn’t just get off the boat.. They put together one of the shrewdest

.investments (A first class heist) since we bought Alaska at 3 cents an acre

from Russia and Manhattan for $27 bucks from an Indian tribe.

 

It’s far more than a mere primary 15% position. The Saudi's deal is bullet-proof.

 

Who are the “two Larry’s” by the way..?

  

 

Ed Cage  |  Plano Texas  |  ecagetx@gmail.com  |  972-596-4363


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