Prince Alwaleed: I own enough bank stock already, thank you

By wpcomimportuser1 | September 16, 2008 | +

TIME’s Bobby Ghosh just chatted with Prince Alwaleed bin Talal today. Does the Prince, who made a fortune betting on troubled Citicorp in 1991 but lately has been seeing mostly losses on that investment, have any plans to ride to the rescue of the U.S. financial sector?

TIME: Would you buy now?

Alwaleed: No, I think we have enough involvement, with Citibank, in the financial services arena.

TIME: No more banks for you, then?

Alwaleed: No, I’m involved with Citibank. Legally I can’t go beyond 5%. Right now, we’re at 4.9%, and I think that’s enough.

Related Topics: Economy & Policy

@TIMEBusiness

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