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Posted at 9:35am on Nov. 27, 2007 Citigroup Lands in Drudge's Doghouse
An Arcane Investment Product Hits the Front Pages
By blackhedd
I was nonplussed to see a big scare headline on the Drudge Report, linking this wire story, under an ugly three-month chart of Citigroup's stock price.
I was even more weirded out to see that the story was about Structured Investment Vehicles (SIVs), a form of engineered financial product that is abstruse enough to confuse professionals, let alone the average Drudge Report reader.
Actually, there was important news from the land of SIVs today, but it came from the London-based Hong Kong-Shanghai Banking Corporation (HSBC), one of the world's largest retail banks. Our intrepid wire reporter (and others) have been spinning Citigroup as bad guys and HSBC as good guys, but as usual there's more to the story.
Read on...
Posted in Citigroup | Economy | finance | Paulson | SIV | subprime mortgage — Comments (20)/ Email this page » / Read More »
