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November 27, 2007

Citi: Political Implications to Come?

Right now politicos and commentators are applauding Abu Dhabi's [sic] sovereign fund's move in helping recapitalize Citi. But how long until the other political shoe drops?

Because some noisy elected sorts had near heart-attacks at the idea of a Middle-Eastern company controlling aspects of a few U.S. ports. Going into a U.S. election year, how are they going to cope with the idea of a likely eventual Citi break-up, some parts of which end up controlled by an Arab group?

How about a rash of similar deals, as Chinese and other Arab funds make a grab for broken U.S. financial assets? I can see the headlines now ... and Drudge is already goosing that angle.

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