Citigroup Stops Withdrawals from Hedge Fund: WSJ
From CNBC

Citigroup has barred investors in one of its hedge funds from withdrawing their money, and a new leveraged fund lost 52 percent in its first three months, the Wall Street Journal reported Friday.

The largest U.S. bank suspended redemptions in CSO Partners, a fund specializing in corporate debt, after investors tried to pull more than 30 percent of its roughly $500 million of assets, the newspaper said. Citigroup injected $100 million to stabilize the fund, which lost 10.9 percent last year, the newspaper said.

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Yep. Booming economy. Just booming. More proof that the crimminals in charge are starting to panic.

Posted by macguiguru as Discuss!, Politics at 12:27 PM MST No Comments