[bsrsharma]

Gulf investors may not save Citigroup, Dubai executive says

Mideast sovereign wealth funds may fail to save troubled U.S. banking giant Citigroup Inc. unless more cash is pumped into the lender, the head of a $13 billion Dubai-owned investment firm said Tuesday.
Sameer Al Ansari, Chief Executive of Dubai International Capital told delegates at a private equity conference that it will take more than the combined efforts of the Abu Dhabi Investment Authority, the Kuwait Investment Authority and Saudi investor Prince Alwaleed bin Talal to save the bank.

“It’s going to take more than that to rescue Citi,” Ansari said. He added that more write downs are expected and that Gulf investors would be required to bolster Citi.

The Abu Dhabi Investment Authority, or ADIA, a sovereign wealth fund owned by the world’s fourth-largest oil exporter, last year bought a 4.9% stake in Citigroup.

The Kuwait Investment Authority also said in January it would invest $3 billion in Citigroup.

Al Ansari said “it would take a lot more money to rescue Citigroup.” A spokesperson for Citi was unable to comment immediately when called Tuesday. ..

http://www.marketwatch.com/News/Story/gulf-investors-may-not-save/story.aspx?guid=%7B6C374435%2D5314%2D4A8E%2DB689%2DB8916D529B7B%7D

[bsrsharma]

Look at this gem from Richmond, CA (bay area)

$99K for a 1000 sqft shack and no takers! that is 76% off peak.

http://www.trulia.com/homes/California/Richmond/sold/541884-339-Market-Ave-Richmond-CA-94801#sold_data

has the sales history. (from patrick.net)

[bsrsharma]

Look at this gem from Richmond, CA (bay area)

$99K for a 1000 sqft shack and no takers! that is 76% off peak.

http://www.trulia.com/homes/California/Richmond/sold/541884-339-Market-Ave-Richmond-CA-94801#sold_data

has the sales history. (from patrick.net)

[bsrsharma]

Look at this gem from Richmond, CA (bay area)

$99K for a 1000 sqft shack and no takers! that is 76% off peak.

http://www.trulia.com/homes/California/Richmond/sold/541884-339-Market-Ave-Richmond-CA-94801#sold_data

has the sales history. (from patrick.net)

[bsrsharma]

Look at this gem from Richmond, CA (bay area)

$99K for a 1000 sqft shack and no takers! that is 76% off peak.

http://www.trulia.com/homes/California/Richmond/sold/541884-339-Market-Ave-Richmond-CA-94801#sold_data

has the sales history. (from patrick.net)

[bsrsharma]

Look at this gem from Richmond, CA (bay area)

$99K for a 1000 sqft shack and no takers! that is 76% off peak.

http://www.trulia.com/homes/California/Richmond/sold/541884-339-Market-Ave-Richmond-CA-94801#sold_data

has the sales history. (from patrick.net)

[bsrsharma]

The Federal Reserve’s rescue has failed

The verdict is in. The Fed’s emergency rate cuts in January have failed to halt the downward spiral towards a full-blown debt deflation. Much more drastic action will be needed.

Yields on two-year US Treasuries plummeted to 1.63pc on Friday in a flight to safety, foretelling financial winter.

The debt markets are freezing ever deeper, a full eight months into the crunch. Contagion is spreading into the safest pockets of the US credit universe.

It is hard to imagine a more plain-vanilla outfit than the Port Authority of New York and New Jersey, which manages bridges, bus terminals, and airports.

The authority is a public body, backed by the two states. Yet it had to pay 20pc rates in February after the near closure of the $330bn (£166m) “term-auction” market. It had originally expected to pay 4.3pc, but that was aeons ago in financial time.

“I never thought I would see anything like this in my life,” said James Steele, an HSBC economist in New York……

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/03/03/ccview103.xml

[bsrsharma]

The Federal Reserve’s rescue has failed

The verdict is in. The Fed’s emergency rate cuts in January have failed to halt the downward spiral towards a full-blown debt deflation. Much more drastic action will be needed.

Yields on two-year US Treasuries plummeted to 1.63pc on Friday in a flight to safety, foretelling financial winter.

The debt markets are freezing ever deeper, a full eight months into the crunch. Contagion is spreading into the safest pockets of the US credit universe.

It is hard to imagine a more plain-vanilla outfit than the Port Authority of New York and New Jersey, which manages bridges, bus terminals, and airports.

The authority is a public body, backed by the two states. Yet it had to pay 20pc rates in February after the near closure of the $330bn (£166m) “term-auction” market. It had originally expected to pay 4.3pc, but that was aeons ago in financial time.

“I never thought I would see anything like this in my life,” said James Steele, an HSBC economist in New York……

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/03/03/ccview103.xml

[bsrsharma]

The Federal Reserve’s rescue has failed

The verdict is in. The Fed’s emergency rate cuts in January have failed to halt the downward spiral towards a full-blown debt deflation. Much more drastic action will be needed.

Yields on two-year US Treasuries plummeted to 1.63pc on Friday in a flight to safety, foretelling financial winter.

The debt markets are freezing ever deeper, a full eight months into the crunch. Contagion is spreading into the safest pockets of the US credit universe.

It is hard to imagine a more plain-vanilla outfit than the Port Authority of New York and New Jersey, which manages bridges, bus terminals, and airports.

The authority is a public body, backed by the two states. Yet it had to pay 20pc rates in February after the near closure of the $330bn (£166m) “term-auction” market. It had originally expected to pay 4.3pc, but that was aeons ago in financial time.

“I never thought I would see anything like this in my life,” said James Steele, an HSBC economist in New York……

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/03/03/ccview103.xml

[bsrsharma]

The Federal Reserve’s rescue has failed

The verdict is in. The Fed’s emergency rate cuts in January have failed to halt the downward spiral towards a full-blown debt deflation. Much more drastic action will be needed.

Yields on two-year US Treasuries plummeted to 1.63pc on Friday in a flight to safety, foretelling financial winter.

The debt markets are freezing ever deeper, a full eight months into the crunch. Contagion is spreading into the safest pockets of the US credit universe.

It is hard to imagine a more plain-vanilla outfit than the Port Authority of New York and New Jersey, which manages bridges, bus terminals, and airports.

The authority is a public body, backed by the two states. Yet it had to pay 20pc rates in February after the near closure of the $330bn (£166m) “term-auction” market. It had originally expected to pay 4.3pc, but that was aeons ago in financial time.

“I never thought I would see anything like this in my life,” said James Steele, an HSBC economist in New York……

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/03/03/ccview103.xml

[bsrsharma]

The Federal Reserve’s rescue has failed

The verdict is in. The Fed’s emergency rate cuts in January have failed to halt the downward spiral towards a full-blown debt deflation. Much more drastic action will be needed.

Yields on two-year US Treasuries plummeted to 1.63pc on Friday in a flight to safety, foretelling financial winter.

The debt markets are freezing ever deeper, a full eight months into the crunch. Contagion is spreading into the safest pockets of the US credit universe.

It is hard to imagine a more plain-vanilla outfit than the Port Authority of New York and New Jersey, which manages bridges, bus terminals, and airports.

The authority is a public body, backed by the two states. Yet it had to pay 20pc rates in February after the near closure of the $330bn (£166m) “term-auction” market. It had originally expected to pay 4.3pc, but that was aeons ago in financial time.

“I never thought I would see anything like this in my life,” said James Steele, an HSBC economist in New York……

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/03/03/ccview103.xml

[bsrsharma]

OT: Very good story on Remote Area Medical (a charitable health care provider) on today’s CBS 60 minutes

http://www.cbsnews.com/stories/2008/02/28/60minutes/main3889496.shtml

I encourage everyone to watch it.

[bsrsharma]

OT: Very good story on Remote Area Medical (a charitable health care provider) on today’s CBS 60 minutes

http://www.cbsnews.com/stories/2008/02/28/60minutes/main3889496.shtml

I encourage everyone to watch it.

[bsrsharma]

OT: Very good story on Remote Area Medical (a charitable health care provider) on today’s CBS 60 minutes

http://www.cbsnews.com/stories/2008/02/28/60minutes/main3889496.shtml

I encourage everyone to watch it.

[bsrsharma]

OT: Very good story on Remote Area Medical (a charitable health care provider) on today’s CBS 60 minutes

http://www.cbsnews.com/stories/2008/02/28/60minutes/main3889496.shtml

I encourage everyone to watch it.

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