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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?


To: TobagoJack who wrote (25728)11/27/2007 8:46:24 AM
From: carranza2  Read Replies (1) | Respond to of 217576
 
The deliciousness in your email tray spells........bailout on a global scale.



To: TobagoJack who wrote (25728)11/27/2007 1:24:10 PM
From: elmatador  Respond to of 217576
 
Abu Dhabi becomes one of Citigroup's biggest shareholders
22 hours ago

NEW YORK (AFP) — A United Arab Emirates investment fund Tuesday was set to become one of Citigroup's biggest shareholders in a 7.5-billion-dollar deal that will help the ailing US bank offset hefty losses.

The state-run Abu Dhabi Investment Authority (ADIA) is controlled by the largest emirate in the oil-rich UAE.

The fund has mounted an investment spree in recent months as crude oil prices have rocketed to record highs close to 100 dollars a barrel and the US dollar has tumbled in value, making American investments cheaper to pick up.

Citigroup announced late Monday that it would receive 7.5 billion dollars from the ADIA for a 4.9 percent stake, making the Abu Dhabi fund one of the largest shareholders in America's second-largest bank by market worth.

The ADIA would gain no management or governance role in Citigroup from the investment.

One of Citigroup's other large shareholders is Saudi Prince Alwaleed bin Talal, a billionaire who owns almost four percent of Citigroup according to media reports.

Citigroup's finances have been ravaged by the months-long US housing downturn and tightening credit markets.

The New York-based bank revealed earlier this month that it was facing likely investment writeoffs of between eight and 11 billion dollars although Goldman Sachs analysts believe the figure could be closer to 15 billion dollars.

Its shares were down 0.7 percent at 30.45 dollars Tuesday morning after dipping below 30 dollars for the first time in five years a day earlier. The stock has plummeted from over 55 dollars almost a year ago.

The banking behemoth is also searching for a new chief executive after former CEO Charles Prince stepped down on November 5 as Citigroup informed investors about its likely future losses.

Win Bischoff, Citigroup's acting CEO, said the deal with ADIA would help bolster the bank's "capital base."

ADIA's managing director, Sheikh Ahmed Bin Zayed al-Nahayan, said the multibillion-dollar investment represented a vote of confidence in Citigroup's "tremendous opportunities for growth."

Industry analysts sounded a more cautious note.

"The move gives Citigroup additional capital flexibility," analysts at Deutsche Bank said in a briefing note to clients, but they said Citigroup was still facing wide-ranging financial challenges.

The Abu Dhabi fund and other UAE-based investment groups have mounted a shopping spree as the dollar's value has weakened and following the launch of a US-UAE Business Council in May aimed at boosting business links.

Just over a week ago, the ADIA snapped up an 8.1 percent stake in Advanced Micro Devices, the second-largest US maker of computer processors, in a 622-million-dollar deal.

In September, the fund bought a 7.5 percent stake in the Carlyle Group, one of America's biggest private-equity firms, for 1.35 billion dollars.

US lawmakers have yet to publicly criticize these latest deals in stark contrast to the political storm triggered in 2006 when numerous lawmakers blocked a bid by Dubai Ports World to take over the management of six US ports on national security grounds.

Citigroup is paying a relatively high cost for the ADIA's investment, according to analysts.

ADIA will initially be granted so-called Equity Units which will eventually be converted into Citigroup stock, but the bank will have to pay an 11 percent "conversion premium" to ADIA under the deal.



To: TobagoJack who wrote (25728)11/27/2007 8:07:05 PM
From: Ilaine  Read Replies (1) | Respond to of 217576
 
It's not hard to prove you are the legal owner of a mortgage if it was properly recorded. Just dust off the title searchers who are gathering spiderwebs in the corner and get them to do a title bring-down to prove the chain.

It costs about $125, or just train a first year law student to do your title searches and pay him peanuts. I would happily offer my first year law student son to the highest bidder.

The thing is that lenders are not bothering because the borrowers don't want the house anyway. If they can't bring the mortgage current then they are playing a rear-guard game. The foreclosure lawyers are so overwhelmed by the avalance that they cut corners, but if forced to come up with evidence, in most cases they will be able to do it.

After they pick off the low-hanging fruit, that is.

One thing America has is lots of lawyers.



To: TobagoJack who wrote (25728)11/27/2007 8:19:23 PM
From: elmatador  Read Replies (2) | Respond to of 217576
 
In 2005, for example, the IMF was on the verge of a deal with the Angolan government for new loans in exchange for commitments to curb corruption and ensure that oil revenue went to social programs, according to Joshua Kurlantzick, an analyst at the Carnegie Endowment for International Peace in Washington.

No Policy Strings

The Angolans broke off the talks at the last minute, and the reason quickly became apparent, said Kurlantzick, author of ``Charm Offensive: How China's Soft Power is Transforming the World.'' China soon offered Angola as much as $5 billion in financing -- with no policy conditions attached.

It is no coincidence that Angola has emerged as one of the biggest sources of oil for China's burgeoning, energy-intensive economy, Kurlantzick said in an interview.

China Uses `Tai Chi' Diplomacy to Build Soft Power
Nov. 27 (Bloomberg) -- When Xu Jianguo, the Chinese ambassador to Nigeria, visited Nnamdi Azikiwe University in Akwa in February, he didn't come empty-handed.

Xu brought a $10,000 contribution, which was used to buy equipment ranging from camcorders to overhead projectors to facilitate teaching Chinese at the school's new Confucius Institute, according to Sam Omenyi, its deputy vice chancellor.

The source was China's Office of the Chinese Language Council International, which has opened 135 Confucius Institutes worldwide. The office is part of a broad campaign involving investment and diplomacy as well as cultural outreach, all aimed at hastening China's progress toward great-power status.

The campaign, combined with China's economic growth and military modernization, forms a challenge that U.S. politicians are starting to notice and policy makers will likely be fending off for years. It is a classic example of what Harvard University professor Joseph Nye has dubbed ``soft power'': building authority through persuasion rather than coercion.

``If you're a rising power, as China is, with your military power increasing, one of your major concerns is that other nations don't create coalitions to balance your power,'' Nye said in an interview. ``Soft power is a way to prevent that.''

Guan Anping, a Beijing-based lawyer and former aide to Vice Premier Wu Yi, calls it China's ``Tai Chi approach'' to diplomacy. ``When you fight Tai Chi, you use your opponent's power against him,'' Guan said. ``It's the soft approach to offense.''

U.S. Focus Elsewhere

The Chinese drive has benefited from a void created by what many nations see as a U.S. retreat from much of the world as it focuses on Iraq and the Middle East, according to analysts.

This was on display in August, when President George W. Bush postponed a summit with Asian leaders and Secretary of State Condoleezza Rice canceled a trip to an Asian security summit to focus on the Middle East.

``It is clear that the rise of China's soft power -- at America's expense -- is an issue that needs to be urgently addressed,'' Nye wrote in December 2005. Success in a global information age, he wrote, ``depends not only on whose army wins, but also on whose story wins.''

Edwards Takes Note

Some politicians, such as Democratic presidential candidate John Edwards, are taking note. ``China is capitalizing on the United States' current unpopularity to project its own `soft power,''' Edwards, a former North Carolina senator, wrote in the September/October issue of Foreign Affairs. ``In the coming years, China's influence and importance will only continue to grow.''

And just yesterday, Defense Secretary Robert Gates called for ``a dramatic increase in spending on the civilian instruments of national security,'' including diplomacy, strategic communications, foreign aid, civic action and economic reconstruction.

``I am here to make the case for strengthening our capacity to use soft power and for better integrating it with hard power,'' Gates said in a speech at Kansas State University in Manhattan, Kansas.

``We must focus our energies beyond the guns and steel of the military, beyond just our brave soldiers, sailors, Marines, and airmen. We must also focus our energies on the other elements of national power that will be so crucial in the years to come.''

Gates Trip

Administration officials deny that they are pulling back from Asia or other regions. ``Far from neglecting Asia, we are more engaged than ever before,'' Gates in a Nov. 9 Tokyo speech concluding a week-long trip to the region.

Still, China has made headway, in part because of the unpopularity of American policies, said Arthur Ding, an international affairs analyst at Nanyang Technological University in Singapore.

China has weakened the influence of the Western-dominated World Bank and International Monetary Fund in the developing world by providing loans that aren't conditioned on the adoption of certain policies, as are funds from the bank and IMF.

In 2005, for example, the IMF was on the verge of a deal with the Angolan government for new loans in exchange for commitments to curb corruption and ensure that oil revenue went to social programs, according to Joshua Kurlantzick, an analyst at the Carnegie Endowment for International Peace in Washington.

No Policy Strings

The Angolans broke off the talks at the last minute, and the reason quickly became apparent, said Kurlantzick, author of ``Charm Offensive: How China's Soft Power is Transforming the World.'' China soon offered Angola as much as $5 billion in financing -- with no policy conditions attached.

It is no coincidence that Angola has emerged as one of the biggest sources of oil for China's burgeoning, energy-intensive economy, Kurlantzick said in an interview.

China's no-strings policies have great appeal throughout the developing world, according to Nye. He said governments are rejecting the 1990s-era ``Washington consensus'' of market growth and democratic governance in favor of what he called ``the Beijing consensus'' of a market economy controlled by an authoritarian government.

For all their success, the Chinese have had setbacks. One was the recent spate of safety-related recalls of Chinese-made products, which focused attention on the country's environmental and workplace problems.

Achilles Heel

Another is Chinese human-rights policies, which Nye calls ``their Achilles heel,'' especially in Europe and the U.S.

One means of assuaging suspicions is the Confucius Institutes, which now exist in 51 countries. They promote Chinese language and culture, train language teachers -- and project a Confucian philosophy that meshes with the Chinese government's political priorities: just as a family should respect its elders, a nation should respect its leaders.

Nancy Jervis, who runs the Confucius Institute in New York, said some U.S. educators initially hesitated to join the program for fear that China would impose political or pedagogical requirements. That hasn't happened, she said.

``People call it `soft power,''' Jervis said. ``I don't know what soft power is, but it's better than hard power.''



To: TobagoJack who wrote (25728)11/28/2007 2:55:21 AM
From: Maurice Winn  Read Replies (2) | Respond to of 217576
 
TJ, there is much that is delicious and in the nature of tidying up of misbehaviour. There is a LOT of fun being had.

But you are obviously too busy to react to my taunts. That's disappointing. I hope you haven't missed them. Just in case:

Lazy natives: Message 24086173
Useless layabout/hedonistic heathen: Message 24085590
Local yokels: Message 24078057
Murderous ideologue: Message 24077640

My best taunts ignored!! It feels like I'm flogging a dead horse. No wonder the British gave up motivating, investing in and saving the locals and retrenched to HQ. There's altogether too much "Don't worry, be happy".

Mqurice