None of the bailout money is going to help those "they said" it was intended

for.  Now citigroup is arrogantly buying up foreign owned toll roads---just

like GM saying they would spend $billions in Brazil on their plants there

with their bailout money.

Out future is being raped by the House and Senate.

I've tried to inform people in several articles I've written that the Wall

Street of the good ole USA is taking its last feeble gasps ---looting the

vaults before taking off ( ala Titanic) for greener pastures. If you Google

Dubai --you will see the futuristic city of FINANCE that has been under

construction for the past decade + ---using slave labor of course from third

world countries. Note how ole Cheney relocated Halliburton there a few years

back (tax free mind you) as have numerous American/ European corporations -

oil barons etc (Bill Gates). I personally have NO doubt at all that old Ken

Lay ( dead of a heart attack my ass) is sitting pretty on one of those

private islands . NO - you or I would NOT be permitted to live in Dubai -

etc.....only the ultra wealthy. They have the best of schools / hospitals

etc and ZERO crime.  Old Bill Clinton is cleaning up in these regions

(heavily invested) - he is now a multi millionaire ( and you wondered why

people go into politics?). He gets $430,000 per one hour of blabbing - over

there. Hillary's pre- arranged agreement to be (in the spotlight) Sec of

State will NOT interfere with his continual money making. JM

http://www.thenewspaper.com/news/26/2613.asp

Bailed-Out Bank Goes on Toll Road Buying Binge

Bailed out Citigroup fund spends $10 billion buying 44 foreign toll roads.

Citi toll

road

Just one week after receiving a pledge of $306 billion in support from US

taxpayers, Citigroup announced the intended $10 billion acquisition of a

debt-laden Spanish toll road group. Citi Infrastructure Partners will hand

over $3.6 billion in cash and assume $6.3 billion in debt from Sacyr

Vallehermoso, the parent company of the Intinere Infraestructuras toll road

group. Itinere operates 32 toll roads in Brazil, Chile, Costa Rica, Portugal

and Spain and Ireland. Another twelve concessions are under construction.

Sacyr today issued a statement to Spanish investors noting that the company

succeeded in offloading 37 percent of its total debt to the US firm.

"With this transaction, the group reaps the value that Itinere accumulated

for its mature concession assets and strengthens its financial situation by

considerably reducing its indebtedness," the statement explained.

On November 23, the US Treasury announced that it had invested $20 billion

in US taxpayer funds in Citigroup in addition to "protection against the

possibility of unusually large losses" on $306 billion in bad debt the

company had acquired primarily in commercial and residential real estate

markets. Armed with the new taxpayer capital, Citigroup believes its

purchase of the toll roads will hold long-term value. In the immediate term,

Citigroup will sell off Itinere's stakes in five Spanish and Chilean toll

roads to Spanish tolling giant Abertis, allowing that company to assume full

ownership of its tolling assets. The deal is valued at $786 million.

Other analysts, including Fitch Ratings, view tolling as a risky investment

as toll road volumes have plummeted in response to the recent spikes in

gasoline prices and the global economic slowdown. In August, Fitch issued a

warning that its outlook on tolling

<http://www.thenewspaper.com/news/25/2511.asp>  had changed to "negative,"

reflecting a dim view of the creditworthiness of the long-term transactions.

In October, Citigroup and Abertis gave up on their joint bid to collect

tolls on the Pennsylvania Turnpike. The consortium spent millions

bankrolling a <http://www.thenewspaper.com/news/24/2465.asp>  slick public

relations campaign that ultimately failed to sway public opinion on the

wisdom of the 75-year proposal.

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