(2007-11-28) Abu Dhabi Invests In Citi

Abu Dhabi invested $7.5B in CitiGroup, to help it get through Sub-Prime-related losses.

Dec02: Teeka Tawari is not impressed. They should take a page out of HSBC's (HBC) book. HSBC came out this week and formally announced that they would shift two Structured Investment Vehicles from "OffBalanceSheet" status to "on balance sheet" status. The two funds represent about $35 billion in total liability. Here we have a management team doing the tough but right thing, no burying the corporate head in the sand here.