It’s good to be a Saudi prince. And it’s good to be an investment company backed by the government of Singapore, or a former Citigroup chief executive.
HELP keep the voice of TOC alive!
If you like this article, please consider a small donation to help theonlinecitizen.com stay alive. Please note that we can only accept donations from Singaporeans. Thank you for your assistance.Do you have a flair for writing? Volunteer with us. Email us your full name and contact details to theonlinecitizen@gmail.com
of course!
Afterall, we are world class!!!
I not bombastic wan.
Could someone translate the quotes? I no no what it means.
thanks.
Think GIC is in a catch 22 situation. Not to convert and the preferred stocks might be worthless in time to come.
Convert and now subject itself to possibly national hatred by the americans for having special treatment by citigroup using bailout money (tax payers’ money).
Let’s hope it’s not another Shin Corp debacle by GIC again.
What Bloomberg meant is it is good to be extremely rich during extra-ordinary times such as the current global depression.
First, preferred.
Now, conversion to ordinary.
Next, further conversion of others and dilution of existing ordinary ?????
Be prepared to migrate… very very soon.