Breaking:Citi-Group About To Release Enron Like Problem

FOX,CNBC | 7-22-02 | my favorite headache

[My Favorite Headache]

Radio and I just see FOX reporting this. Big lender to worldcom and other giants...in trouble.Markets now back to falling...here we go.

[steveegg]

Great tune.

And I wonder, still I wonder, who'll stop the rain.

[aristeides]

Does Awaleed's stake in AOL Time Warner explain CNN's Middle East reporting?

[NativeNewYorker]

Assuming the options fit the formula of having to use then-current prices as a "strike", his calls are waaaaaaaay out of the money.

[Oldeconomybuyer]

Robert E. Rubin - (From: Citigroup's website)
Director
Member, Office of the Chairman
 

[Malacoda]

*snicker*

I have a CitiBank MasterCard. I wonder if that means they'll be knocking on my door to collect EVERYTHING I owe them.

[McGruff]

When contacted by Fox News channel
Senator Loserman was not available for comment

[steveegg]

Does Awaleed's stake in AOL Time Warner explain CNN's Middle East reporting?

No; that's a legacy of Ted Turner.

[Dog]

I heard earlier Enron hid a $5 Billion Loan from Citigroup as an energy deal....

[Oldeconomybuyer]

April 9, 2002

 Enron lawsuit portrays Rubin pushing bailout
By Patrice Hill
THE WASHINGTON TIMES

     Robert E. Rubin, the former Treasury secretary and current vice chairman of Citigroup Inc., is portrayed in the latest Enron lawsuit as trying to protect the bank's extensive investments in Enron Corp. by orchestrating a bailout for the energy giant in the fall.  CONTINUE

[Steve_Seattle]

". . .disguised debt . . . through . . . complex financial accounting . . ."

Hmmmm, reminds me of Whiteater, where close friends and business associates of George Bush, er, I mean Bill Clinton, used complex financial transactions to disguise their financial insolvency. And if I recall, the lawyer who drew up some of those bogus deals was none other than Dick Cheney, er, I mean Hillary Clinton.

[steveegg]

Outstanding. Mind if I add this to the collection?

[CJ Wolf]

hopefully the dollar will go down to next to nothing in the upcoming weeks and I can sell my playstation one games for a grand a pop and pay them back with worthless paper money.
/sarcasam

[kcvl]

Former Clinton Treasury Secretary Robert Rubin, The Washington Post reports, also got into the act on behalf of Enron. Chairman of the executive committee of Citigroup, one of Enron's main creditors, Rubin called up Peter Fischer, Treasury Undersecretary, and asked "what he thought of the idea" of calling bond-rating agencies to help forestall a crippling reduction in Enron's credit rating. However, fortunately for Bush, Fischer did not respond

[cactusSharp]

for those in Rio Linda , this is the
smokin' gun. DID YA HERE THAT REPUBLICANS ?
follow this and all the greed and by who is
right there for all who TRUELY care.

Go get em Dubya, here is your anvil against
all hammers....stand strong, the blows will
self injure the striker.

[lelio]

In a series of deals known as Yosemite, the documents show, Citigroup's complex scheme helped Enron borrow money over the past three years that was booked as coming from trades instead of loans.
... Citigroup says it has done nothing wrong, noting that lenders shouldn't be held responsible for how a client such as Enron accounted for the financing arranged by its bankers.
Okay maybe nothing "wrong" but how about being a co-conspirator in inflating Enron's revenues.
Oddly I haven't seen this story on CNBC today.

[Alberta's Child]

With all due respect to anyone who works for Citigroup, I've refused to do business with that company for the last nine years. Thanks to that Citibank customer service rep and her supervisor who refused to lend me a hand when I desperately needed a credit line increase (I was out of state at the time, and had a major auto repair bill on my hands).

Note to anyone in a customer-oriented business: Be very careful before you f#ck with the recent college graduate who doesn't have a nickel to his name -- He may never forgive you no matter how successful he becomes later in life.

[kcvl]

Treasury Secretary Robert Rubin's Cabinet salary of $151,800 is, for people in his league, practically lunch money. He's so rich -- earning $26 million in his last year as chairman of Goldman Sachs & Co. -- he's been known to charter a jet on his own tab for government business.

Clinton's chief of staff, Erskine Bowles, is worth more than $30 million, second only to Rubin. Indeed, Clinton has appointed more millionaires to top jobs than George Bush or Ronald Reagan did.

[My Favorite Headache]

Thanks for this post...someone just sent it to me in an e-mail believe it or not.

[My Favorite Headache]

What I wouldn't give for the Bush Admin. to finally take off the gloves here. But something tells me they won't because one of their own will be connected to closely or something like that.

[Oldeconomybuyer]

Rubin Red-Faced Over Enron? Not In The [NY] Times
, 02.11.02, 1:30 PM ET

NEW YORK - Just in time for Valentine's Day, The New York Times today delivered a remarkable front-page bouquet to Robert Rubin, in the form of an unusually generous assessment of the former Treasury secretary's attempted string-pulling on Enron's behalf.  CONTINUE at Forbes.com.