Saudi Prince Alwaleed Bin Talal Has Full Confidence In Citigroup (VIDEO)

Saudi Prince Alwaleed bin Talal says he has "full confidence" in Citigroup CEO Vikram Pandit and believes the bank's financial problems will resolve themselves with time.

"I believe personally as a shareholder in this company more than 18 years ago that Vikram should be given more time. He has just taken over this one year and the legacy that he had is tremendous. So he has my full confidence," the prince, the bank's largest individual investor, said Monday on CNBC.

Read full story here.

-OR-

Watch Prince Alwaleed express his confidence in Citigroup on MSNBC's Morning Joe.

Comments

[Enid]

Blame it on the Brits they educated all these royals at their best schools, their world smart now and have trillions too prove it.

[kassandranobody]

THE SAUDIS ARE SMARTER THAN BOTH BUSHIES AND LOTS OF OTHER AMERICANS THAT THINK THEY MADE A "GOOD" DEAL WITH THEM

LET'S RE-CAP SHALL WE?

WE DID NOT MAKE ENERGY EFFICIENT CARS OR ANYTHING ELSE) SO WE COULD KEEP THE PRICES OF GAS UP- SO WE CAN GIVE THEM APPALLINGLY UNHEALTHY AMOUNTS- SO THEY CAN BUY OUR BANKS- AND THEN RUN THEM INTO THE GROUND AND THEN WE CAN BAIL THEM OUT-

OH AND DON'T FORGET
THE SAUDIS THAT WERE IN 9-11 DID IT BECAUSE THEY WANTED US (OUR BASE)OUT OF THEIR COUNTRY
WE INVADED IRAQ FOR THE SAUDIS- SO WE CAN PUT A BASE THERE

ARE YOU KIDDING???­??????????­??

[ZimboChick]

I laughed while reading the comments in here and indeed watching some of the corn balls up there. You people are clueless aren't you?? Well Bush is out of office. You are going to learn just how much of America has been mortgaged. Disparaging the guy will never harm him in any way. No harm is coming his way. America looks after him. Long live the land of the free. lol

[truthynesslover]

He looks like he just walked out of saturday night fever saudi edition!

[Wilburrr]

This guy reminds me of Father Quido Sarducci.

http://www.youtube.com/watch?v=kO8x8eoU3L4

I'm not sure who has the deeper anyalysis...

[cobblepot]

The prince's bogus confidence aside, what in the hell is up with poor horse behind him? It seems to be indoors, and struggling mightily (not from the golden saddle on it's poor back!)

[dukeitout]

We shouldn't take the Prince's financial advice seriously. He's squandered a ton of money. Would you ask V.P. Cheney to lecture you on hunting safety?

[munki]

I saw this aired few days ago... kept thinking... what would you do if you have $7bio. invested?
Well, sir, you have much more say to Citi than any one of small potato investors...
Citi could use a face lift and split up. It is just too big to handle and complicated.
Perhaps, management / corporate infrastructure could be restructured...
Too many red tapes and change the corporate culture...
Citi do have a reputation of hiring talented college graduate, use them and pink slip when they matures and train other newbies for many many years... In my banking career... I met so many talented ex-Citi officers end up in other financial or other industries. Either, Citi is too big to recognize some of these talents; no providing competitive compensation; management fear of losing their jobs due to intimidation; or as what is reputed. Loss of these talents and cultural dispute within... all symptoms are familiar with conglomerate companies, but without "feeling"... "care of employees", but identify themselves like... employee 00505, etc.
I rest my case...

[HelixScanr]

http://www.huffingtonpost.com/2008/11/26/indian-terror-shootings-i_n_146708.html

[JScott]

See folks this is what buying that SUV and filling it up with gasoline from Saudi oil gets us.
A shamelessly weathly foreigner that looks like Father Guido Sarducci.

This is this wHere we want are money/wealth to go?

Folks THINK about that gas guzzling SUV that ya have!

We've been punked.

PWN'ED

[sposton]

These multinational behemoths don't care about America or Americans. They want to transcend the nation-state (read kill) but when they are in trouble where do they run? When we are bailing out Citigroup who are we really bailing out? We are bailing out those who own Citigroup, like that Saudi prince.

We don't care about you. We screw up. You pay! I say, if we pay we wipe the owners out completely - nationalize and then discard. Do I care if Citigroup exists the day after tomorrow? No, I don't and why should I?

[hotstuff]

Shhhhhhh! We need to work with people from all around the world! but be careful we actually stay in control of our banks and bussiness's! We the people!

[mjtaylor22]

His confidence means nothing to me, he has the money to blow on this failed venture. and of course he wants his stock price brought up becaus ehe needs to buy another palace and build more stables.

[troika]

If I am bailed out of my misery by the government, then I will also have the full confidence and so would everyone else if they too were to be bailed out. Frankly, I care a hoot about these Saudi princes.

[Tyrione]

The Ignorance exhibited in this forum regarding Global Economies of Scale is staggering.

[chewie2008]

Is this the guy from Cannonball Run???

[dupart1]

hahaha love that!!

[leevntheus]

I cannot really get out of bed anymore. I am a slave. We are slaves. These slaveowners rule us. America is not the land of the free. It is the land of the duped and SOLD. We are all slaves and our government is ratifying the enslavement of our grandchildren to these mongrels.

[AContrario]

It is sad but true, welcome to the real world buddy.