Citigroup: Hedge Funds Led By George Soros, John Paulson Buying Huge Stakes In Troubled Bank

bloomberg.com:

Feb. 17 (Bloomberg) -- Firms run by John Paulson, Eric Mindich and George Soros purchased almost half a billion shares in Citigroup Inc. last quarter as more than 120 hedge funds said they bought stock in the bank.

Paulson & Co. reported a stake equal to 506.7 million shares in New York-based Citigroup, up from about 300 million at the end of the third quarter, according to a government filing yesterday. Mindich's Eton Park Capital Management LP acquired 138 million shares, making the company its largest holding.

Read the whole story: bloomberg.com

Comments

[metametaphysical]

01:02 AM on 02/18/2010

they must have moved the toxic bean? I wonder where it is now?

this is proof of course ~ there is no such thing ~ as stock manipulation.

[nixrox04]

06:01 PM on 02/17/2010

Of course they are investing in Citicorp!!! You and I bailed them out and will end up doing it again and again. They will make a killing at taxpayer expense as usual.

[DHubbard]

05:26 PM on 02/17/2010

OBAMA and Bernanke are featured in a movie-- about greedy hedge funds called "Stock Shock." Even though the movie mostly focuses on Sirius XM stock being naked short sold nearly into bankruptcy (5 cents/share), I liked it because it exposes the dark side of Wall Street and revealed some of their secrets. DVD is everywhere but cheaper at www.stockshockmovie.com

[SnickDiesel]

03:22 PM on 02/17/2010

thank you. :)

[rigmoten]

02:51 PM on 02/17/2010

Maybe Soros doing this will get the rights act together and put an end to the games the elites are playing on wall street.

One can hope.

[supergenius02]

02:34 PM on 02/17/2010

It is generally a good idea to invest where the hedge funds are investing. I will personally start doing some Citi research.

[mikefina]

07:32 PM on 02/17/2010

Late.

[spiralskydancer]

02:18 PM on 02/17/2010

greetings.....the banks may be" too big to fail", but what about capitalism itself?.....clearly it is on life support, and all the doctors, lawyers, wall streeters, bankers, and politicians are plugging in everything and anything they can think of to keep it alive.....the question remains: who will pull the plug and put old cappy out of his misery...... p.s.it won't be anyone in the above named group.....

[deminmo]

02:04 PM on 02/17/2010

Who says large corporations and big money investors
don't run the country and our economy, are just plain
stupid! This is really scary if you think about all the
implications.

[World Citizen]

02:49 PM on 02/17/2010

You got it right. But they're counting on the fact that most americans are too involved with their favorite TV series to really know what's going on...

[chelliza]

03:23 PM on 02/17/2010

You have the tea baggers screaming not to tax these people, making sure government is too small to be able to control them and wanting the spending that helps the middle class to stop. They have to be paying these tea baggers to do this. No one is that crazy.

[Rule Of Law]

02:55 PM on 02/17/2010

With folks like Soros invested in Citi, there is no hope for Reform or even breaking up the TBTF Wall Street Vampire Squid Banks. What President has the courage to take these financiers on?

[LberalSpace]

01:51 PM on 02/17/2010

We have the same people in power now that created the mess. W.T..F. is wrong with this picture?.
hat tip to: http://bertreport.blogspot.com/

That's why we can;t get any reform!

[lostpl8]

01:33 PM on 02/17/2010

The sum of its parts is worth more then the whole, if that is not the world turned on its ear i don't know what is.

[ibsteve2u]

01:19 PM on 02/17/2010

Who wouldn't want their very own laundromat?

[cyoohoos]

12:56 PM on 02/17/2010

Who wouldn't invest in a sure thing?

[joyf1]

12:24 PM on 02/17/2010

We owned Citigroup corporate bonds. In November, after they went into bankruptcy, we sold since Citigroup suspended their dividends. (and we needed those dividends to help pay for health insurance!) We were hoping to recoup 75% of our investment. Our bonds sold the same day, within hours, and at 95%+ of our total investment. My broker said, "They know something". We couldn't believe people were scooping up Citigroup bonds that quickly and at that price considering the events of the previous days. Yep, they know something.

[coastalcarla]

04:41 PM on 02/17/2010

Isn't "knowing something" on the inside and then acting on it to make money for yourself illegal? Isn't that what the movie Wall Street (the original one) was all about?

[pjwrites]

11:48 AM on 02/17/2010

Showing support for their fellow thieves and criminals, how nice!

[LberalSpace]

11:31 AM on 02/17/2010

Good read: http://bertreport.blogspot.com