Citi Saved
Posted By: Dr. Frugal in Economics on 11/28/2007 at 06:42:37
Citi was saved by Abu Dhabi and their $7.5b influx of cash. Without a doubt, now that the precedent has been set, other foreign investors from previously "unsavory" locations are now going to be buying into major US companies. Coupled with the weak dollar, there's really no stopping places like China and the Middle East from gobbling up large shares of US companies.
Pre-deal/pre-dollar-collapse, there would have been a public backlash but now these foreign investors are being hailed as saviors and frankly they are. Abu Dhabi has not asked for any business control and I think that's the key to any major foreign investment to keep the public happy.
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