Dealbreaker on the future for Citigroup
Bob Morris @ Nov 21st 2008 15:30 - Category: Credit crisis Tags: Citigroup
But wait, could a rescuer be coming?
Somali pirates in discussions to acquire Citigroup (C)
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 their top investment grade ratings for the PRBS’s.
Pirates buying pirates. I like that.
ClusterStock is on Citi Death Watch all weekend, be sure to check back often.
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