CALLING ALL ECONOMIC GENIUSES HERE. A few quick questions, K?
Apparently, in January, 2008 Kuwait bought $3 Billion dollars of Citibank's preferred shares to help City out.
Eight months before "we land on the brink of a depression", Citi got it's first bailout from Kuwait.
Then Kuwait converted its preferred shares to ordinary shares and pulled out today.
Kuwait made a nifty 37% profit. Good for them. They went home with $4.1 billion.
In September this year KIA said it had no intention of selling its holdings in either Citigroup or Bank of America (BoA or Merrill, my question) in the short term because its investment policies are based "on a long-term vision".
http://thescotsman.scotsman.com/...
What? BoA?
CALLING ALL FINANCIAL GENIUSES: What does this mean? More below: