Posted on 02/15/2008 2:15:40 AM PST by BGHater
Citigroup Inc (C.N: Quote, Profile, Research) has barred investors in its CSO Partners hedge fund from withdrawing their money, according to a Wall Street Journal report on Friday.
Citigroup suspended redemptions in CSO, a fund specialising in corporate debt, after investors tried to withdraw more than 30 percent of the fund's $500 million in assets, said the story.
CSO had an 11 percent loss last year, forcing Citigroup to inject $100 million to stabilise the fund, said the Journal.
Ping.
~~Alan Greenspan, February 22, 2004
>>with congress for allowing lending
>>institutions to sell adjustable rate mortgages.
Should congress also disallow floating credit card interest rates?
“American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage.”~Alan Greenspan, February 22, 2004
It sure has been good for the economy hasn’t it?
When the payments go up and the people cannot afford the increase they lose their homes.
It looks to me like the lenders benefited (short term) not the consumers.
Should congress also disallow floating credit card interest rates?
Absolutely. Usury laws should also be reinstated.
There are rumors floating around about Both Citi and B of A......
Yep. Not very good ones, either. Thanks for the ping, ovrtaxt.
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