How dodgy is the Citibank-Abu Dhabi deal?

[tippy]

One day everyone is going to wake up and realize what this deal really is. Abu Dahbi didn't take a stake to make money. They got plenty of money. And there are surely better investments than a scandal ridden bank.

They took a stake for the intellectual property aspect. Oil is going to run out one day. These guys have money from the oil and they need to develop a banking system. Their future is in becoming the worlds banker, not oil supplier.

7.5Billion for the innerworkings of the worlds largest bank? Yeah that is a pretty sweet deal.

And if anyone wants to enter into the UAE or Dubai banking game, you got to pay to play. Call the 11% terms a cover charge. When do we see Citigroup opening up some Dubai branches?

And we thanked them...