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Originally Posted by Brucelee
Dec. 14 (Bloomberg) -- Prince Alwaleed bin Talal, Citigroup Inc.’s largest individual investor, lost 19 percent of his personal wealth in the past year
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In the immortal words of John McClane - "
Welcome to the party, pal!"
Don't think I'll be shedding any tears for the old Prince. It's interesting, it seems this economic downturn is really hurting the Arab economy too. Past recessions were partially their doing as they cut oil production, increased prices, and made boat-loads of $$$ at everyone else's expense. Maybe in an effort to diversify their economies they've become what they outwardly loathe - Capitalists. Hopefully they'll realize the importance a strong US economy plays in the world economy and think twice about hatching some death-blow move on us.
I guess it's good to know the really rich are worth 3/4 of what they used to be, just like us common folk. I'm glad I was able to pay off my mortgage last summer and all I have to do is pay the taxes on my house and make Boxster payments for 36 more months.