Does anyone find this unsettling? (loans, insurance, foreclosure, mortgages)

[hiknapster]

The Abu Dhabi Investment Authority will invest $7.5 billion in Citigroup, offering the nation’s largest bank needed capital to offset big losses from mortgages and other investments.

Citigroup sells stake to Abu Dhabi fund - U.S. business - MSNBC.com

[bls5555]

Yes, Yes I do. As do I about most everything that is going on in this country nowadays.

I plan on getting rich in the next 3 years and moving to New Zealand

[jco]

Wow. Yes. My biggest question: why?

[GreenMachine]

No. Why would I find it unsettling. Because they are Arabs?

[hiknapster]

I find it very unsettling because I was reading an article last night that says American banks have taken a bigger loss than they have let on.

BBC NEWS | Business | Carnage on Wall Street as loans go bad

I found THAT to be very unsettling.

Then, today, the Abu Dhabi Investment Authority says it will invest $7.5 billion in Citigroup.

I find our current economic state disturbing, but I also find it unsettling that a country that is getting rich off of us is also "bailing" us out.

[FLPL75]

Just a note :

When I was working in the sub-prime foreclosure dept at a major bank you would not believe how profitable these loans were for the banks before they cracked down on the lending requirements.

The media jumps on the losses these companies have but they never mention the huge profits they have made over the years from the sub-prime loans. I guess because it is not as "dramatic and newsworthy" Not to mention the banks want to appear to be "feel sorry we have lost money'
It would be interesting to see what the end figures are if they subtracted the losses from the profits.

[Philip T]

This is something bad? Naw, I think it is great.

Works for me.

I would love to see both US Bankers and International Oil Folks lose their asses loaning US worthless deadbeats money.

Afterall, who here would be dumb enough to loan Citibank money?

I agree with Karla -- this is about like typical insurance company scums who only want to take money in and had no plan or intent for ever paying a claim or facing a loss. In the immortal words of Nelson Munts (Simpsons) Ha Ha!

[Magnolia Bloom]

No, comforting. When we all have a dog in the hunt, everyone's survival will be assured.

[gregandvicky]

They are just completing the circle. We buy their oil, then they use the money to buy america.

[sponger42]

Originally Posted by gregandvicky

They are just completing the circle. We buy their oil, then they use the money to buy america.

Yep. We voluntarily enslave ourselves to them by refusing to bear the pain of switching from an oil-based economy, and instead taking the easy way.