Armed Polite Society
Main Forums => The Roundtable => Topic started by: roo_ster on December 10, 2008, 07:43:51 AM
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My only hope is they make Robert Rubin walk the plank.
http://optionarmageddon.ml-implode.com/2008/12/02/somali-pirates-in-discussions-to-acquire-citigroup/
Somali Pirates to acquire Citigroup
December 2, 2008 – 5:57 pm
November, 2008 (Bloomberg) — The Somali pirates, renegade Somalis known for hijacking ships for ransom in the Gulf of Aden, are negotiating a purchase of Citigroup.
The pirates would buy Citigroup with new debt and their existing cash stockpiles, earned from hijacking numerous ships, including most recently a $100 million Saudi Arabian oil tanker. The Somali pirates are offering up to $0.10 per share for Citigroup, pirate spokesman Sugule Ali said earlier today. The negotiations have entered the final stage, Ali said. ”You may not like our price, but we are not in the business of paying for things. Be happy we are in the mood to offer the shareholders anything,” said Ali.
The pirates will finance part of the purchase by selling new Pirate Ransom Backed Securities. The PRBS’s are backed by the cash flows from future ransom payments from hijackings in the Gulf of Aden. Moody’s and S&P have already issued a AAA investment grade rating for the PRBS’s.
Head pirate, Ubu Kalid Shandu, said “We need a bank so that we have a place to keep all of our ransom money. Thankfully, the dislocations in the capital markets have allowed us to purchase Citigroup at an attractive valuation and to take advantage of TARP capital to grow the business even faster.”
Shandu added, “We don’t call ourselves pirates. We are coast guards and this will just allow us to guard our coasts better.”
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:laugh:
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This actually sounds pretty reasonable.
Makes more sense than the stuff our government is doing :rolleyes:
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Figures. I just made a substantial purchase of Citigroup stock.
I seem to be the kiss of death lately.
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So will Citigroup stockholders receive a return on the ransoms claimed by the
pirates coast guards in the future? :lol:
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So will Citigroup stockholders receive a return on the ransoms claimed by the pirates coast guards in the future? :lol:
I suspect so, especially after the Somali pirates loan some of Citigroup's money to fellow pirates at a near-extortionate APRrrrgh!
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Tongue-in-cheek aside, anybody here watch Greta Van Susteren interview Donald Trump last evening?
I'm not a big fan of The Donald, but he had some interesting words that kept me from changing the channel.
They were discussing the federal bailout to the banking industry, how they're still not loaning any money out, but went ahead and bought a Chinese bank with the bailout funds. :O
http://gretawire.foxnews.com/2008/12/10/donald-trump-the-entire-interview/