Thursday, January 10, 2008

For Sale

Just bring us back two for each one we lend you. Bloomberg (01.10.08):
"Citigroup Inc. rose in Germany and Japan after the Wall Street Journal reported that the biggest U.S. bank is seeking as much as $10 billion from foreign investors as mortgage-related losses deepen.

Merrill Lynch & Co., the largest brokerage, also is in talks with investors and may get $3 billion to $4 billion, the Journal said earlier today, without citing any sources."

Citigroup Gains on WSJ Report of Foreign Investment

"Citigroup has already received about $7.5 billion from Abu Dhabi and Merrill said last month that it's raising as much as $6.2 billion from Singapore's Temasek Holdings Pte. and New York-based money manager Davis Selected Advisors LP."

Our Jolly Bankers are getting reamed on these deals. And there's not much they can do about it.

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