Citi to return $7 billion to investors

[Lloyd Bonafide]

http://www.reuters.com/article/newsOne/idUSN0747733720080807

NEW YORK (Reuters) - Citigroup Inc agreed to buy back more than $7 billion of illiquid auction-rate securities and pay a $100 million fine to settle charges it fraudulently misled investors about the debt's risk.

It shouldn't be a problem for Citibank, though - can't Ben and the Fed just take this garbage in on a trade-in for some freshly printed cash?

 

[Jonsey]

http://www.reuters.com/article/newsOne/idUSN0747733720080807



It shouldn't be a problem for Citibank, though - can't Ben and the Fed just take this garbage in on a trade-in for some freshly printed cash?

Sure.

US banks 'attractive' - wealth fund


http://www.arabianbusiness.com/522698-us-banks-attractive---abu-dhabi-wealth-fund

“Some of these banks have halved in terms of their values and some of them have lost more,” said HE Eissa Mohamed Al Suwaidi, a director at the Abu Dhabi Investment Council, in an interview in the UAE capital.

Abu Dhabi Investment Authority, the world’s richest sovereign wealth fund, last year agreed to invest around $7.5 billion in Citigroup which is in the process of slashing around 13,000 jobs around the world.

 

[Lloyd Bonafide]

Banks have lost an estimated $400 billion through credit losses and writedowns since defaulting subprime mortgages in the US triggered a global credit crunch.

$400 Billion in total bank losses written off already, and something like $1 Trillion more in write-offs still to go, according to several estimates, but banks are still a good investment?

Especially Citibank, with their $1.1 Trillion in mystery assets "off the books / value unknown"?