Posts Tagged ‘Investors’
China Investment Corp, a $200 billion sovereign fund, is set to spend $2 billion buying U.S. distressed assets from property to infrastructure via three funds, including one managed by Goldman Sachs, sources briefed on the plan said on Tuesday.
What do IndyMac and Countrywide have in common? Double speak and CEO public statements that mean little or nothing. Some call it outright lying to the public and stockholders. Just two months ago, IndyMac’s CEO was calling the plunge in the company’s stock unwarranted, even as house price declines accelerated. “Given the decline in our stock price, some people have questioned Indymac’s survivability in the current environment,” he wrote back on April 30, with IndyMac shares trading at $3.25 apiece. “I am here to tell you that I believe we have turned a corner and that our business is improving.” The same thing happened at Countrywide.
“There is no truth to the liquidity rumors,” Russell Sherman, a spokesman for New York-based Bear Stearns, said in an interview. Rumors have been floating around for about a week. Are agitators taking advantage of the market? Granted, nobody really knows who holds tainted paper but the picture is getting clearer. However, as anybody who has been under attack can testify, it is very hard to disprove a negative when allegations are not based on facts to begin with. Of course some rumors may be based in fact.
