KD in CA Posted November 25, 2008 Share Posted November 25, 2008 2008-11-25 14:23:00.260 GMTNovember 25 (Bloomberg) -- The Somali pirates, known for hijacking ships for ransom in the Gulf of Aden, are negotiating a purchase of Citigroup. The pirates would buy Citigroup with new debt and their existing cash stockpiles, earned most recently from hijacking numerous ships, including most recently a $200 million Saudi Arabian oil tanker. The Somali pirates are offering up to $2 per share for Citigroup, pirate spokesman Sugule Ali said earlier today. The negotiations have entered the final stage, Ali said. ``You may not like our price, but we are not in the business of paying for things. Be happy we are in the mood to offer the shareholders anything," said Ali. The pirates will finance part of the purchase by selling new Pirate Ransom Backed Securities. The PRBS's are backed by the cash flows from future ransom payments from hijackings in the Gulf of Aden. Moody's and S&P have already issued their top investment grade ratings for the PRBS's. Head pirate, Ubu Kalid Shandu, said "we need a bank so that we have a place to keep all of our ransom money. Thankfully, the dislocations in the capital markets has allowed us to purchase Citigroup at an attractive valuation and to take advantage of TARP capital to grow the business even faster." Shandu added, "We don't call ourselves pirates. We are coastguards and this will just allow us to guard our coasts better." Link to comment Share on other sites More sharing options...
Beerball Posted November 25, 2008 Share Posted November 25, 2008 Wow, they are trying to legitimize, that's a surprise. Link to comment Share on other sites More sharing options...
Pete Posted November 25, 2008 Share Posted November 25, 2008 watch our government pour billions to bail them out Link to comment Share on other sites More sharing options...
bills_fan Posted November 25, 2008 Share Posted November 25, 2008 LMAO!! Where did you find that? I need a link to forward!! Link to comment Share on other sites More sharing options...
MartyBall4Buffalo Posted November 25, 2008 Share Posted November 25, 2008 Link please Link to comment Share on other sites More sharing options...
Chef Jim Posted November 25, 2008 Share Posted November 25, 2008 I assume the Onion. Link to comment Share on other sites More sharing options...
KD in CA Posted November 25, 2008 Author Share Posted November 25, 2008 Sorry, no link. It came in an email from a girl who's husband works in the hedge fund world. Those guy always have the best jokes. Link to comment Share on other sites More sharing options...
Beerball Posted November 25, 2008 Share Posted November 25, 2008 Sorry, no link. It came in an email from a girl who's husband works in the hedge fund world. Those guy always have the best jokes. joke Oh, I new it was a joke. Link to comment Share on other sites More sharing options...
VOR Posted November 26, 2008 Share Posted November 26, 2008 Sorry, no link. It came in an email from a girl who's husband works in the hedge fund world. Those guy always have the best jokes. Yes, just replace "Somali pirates" with "hedge fund workers." Link to comment Share on other sites More sharing options...
The Avenger Posted November 26, 2008 Share Posted November 26, 2008 Sorry, no link. It came in an email from a girl who's husband works in the hedge fund world. Those guy always have the best jokes. Everybody knows hedge fund managers aren't just the richest guys in the world, they're also the funniest. Study comedy and economics and you might have a shot of getting that dream gig and living on easy street someday. I wish I was a hedge fund manager....they probably get chicks, too... Link to comment Share on other sites More sharing options...
KD in CA Posted November 26, 2008 Author Share Posted November 26, 2008 I wish I was a hedge fund manager....they probably get chicks, too... Sunday morning at the bagel shop in Greenwich looks like the jeans and tee shirt competition at a Mrs. America pageant. Link to comment Share on other sites More sharing options...
\GoBillsInDallas/ Posted November 26, 2008 Share Posted November 26, 2008 Sunday morning at the bagel shop in Greenwich looks like the jeans and tee shirt competition at a Mrs. America pageant. New Canaan > Greenwich Link to comment Share on other sites More sharing options...
truth on hold Posted November 26, 2008 Share Posted November 26, 2008 good, now Pandit the Bandit and his Banditos will be made to walk the plank Link to comment Share on other sites More sharing options...
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