Citi plans fund to buy bank debt

Discussion in 'Wall St. News' started by ASusilovic, Mar 26, 2009.

  1. A Citigroup investment management unit is to start fundraising for a new fund that will look to buy up the debt of banks. The new fund under the bank’s fixed income investment management unit - a new platform for its fixed income investment funds - will start marketing to investors next week with the aim of raising about $250m, under a mandate for buying up undervalued bank bonds issued by top banks.

    Ha, ha, ha, ha, ha...Somebody please send this to the US Senate and Congress ! Ha, ha, ha !!!:D :D :D :D :D
  2. NazSpaz


    Leave it to them to come up with another way to hose their investors, start a fund to then sell their own crap to. Pretty safe bet that any assets the fund buys from Citi will not be as 'undervalued' as the investors are being told.
  3. LVMises


    Just remember Citi has ownership in the FED. With their newly create coin, Citi will do everything and anything to support the FED's balance sheet.
  4. all these fund initiatives are just attempt to lure in suckers.

    You can expect all the major banks to spin out funds looking to attract private money that will end up being funneled into TALF.

    It's called passing the hot potato.

    I have already received calls from my private banker offering me to participate in this unbelievable opportunity to rebuild our financial system.

    Yeah, right, guess what I told him.