• Most Popular
  • Most Shared

Alwaleed says Citigroup CEO has full confidence

Mon Nov 24, 2008 2:02pm EST

Nov 24 (Reuters) - Saudi Prince Alwaleed bin Talal spoke Monday on CNBC television, after Citigroup Inc received a new capital infusion from the U.S. government. Alwaleed is the bank's largest individual investor:

* Alwaleed says Citigroup Chief Executive CEO Vikram Pandit deserves more time, has his full confidence

* Alwaleed says FDIC deserves part of blame for citigroup's fate, after allowing Wachovia Corp to be sold to Wells Fargo & Co rather than Citigroup

* Alwaleed says Pandit is putting "the house in order"

* Alwaleed says capital injections into Citigroup are "way beyond" what bank needed

* Alwaleed says fomer Citigroup Chief Executive Sanford Weill told him he was sorry for appointing Charles Prince as chief executive of Citigroup in 2003

* Alwaleed says Citigroup difficulties now should be blamed on prior management

* Alwaleed calls Citigroup a "core investment"

* Alwaleed says "I am personally committed to Citigroup, no doubt about that"

* Alwaleed says Citigroup unlike American International Group Inc in that it did not need to be nationalized

* Alwaleed says Pandit deserves a "vote of confidence," and is "doing the right thing"

* Alwaleed says $50-60/barrel oil could help western economies get out of recession

* Alwaleed says would prefer that oil prices rise in steady manner

(New York Equities Desk)


More from Reuters

A male polar bear cannabalizes a polar bear cub in an area about 300km (186 miles) north of the Canadian town of Churchill November 20, 2009. Credit: REUTERS/Iain D. Williams

Polar bear turns cannibal

As the world focuses on climate change in Copenhagen, the animal that has come to represent global warming is turning cannibalistic as the Arctic ice melts their hunting grounds, a U.S.-led global scientific study said.  Slideshow | Full Article 

    Climate Conference
    Emmanuel Roy, a suspect in a mortgage-fraud scheme is escorted by FBI agents after being taken into custody in New York, October 15, 2009. REUTERS/Brendan McDermid

    Sowing seeds of corruption

    Corruption, whether it's crooked officials, financial fraudsters or philandering sports stars, is the country's No. 1 criminal threat, says the FBI.  Full Article 

    Corporate Crime
    Space shuttle Atlantis lifts off from launch pad 39A at the Kennedy Space Center in Cape Canaveral, Florida November 16, 2009. Atlantis lifted off its seaside launch pad on Monday, loaded with spare parts to keep the International Space Station flying after the shuttles are retired next year. REUTERS/Scott Audette

    Can Florida re-launch itself?

    The sunshine state's space program is a boon for local businesses, especially when a shuttle takes off. But what happens when the 29-year old program comes to a close next year?  Full Article 

    U.S.