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Thread: CBI announces its guardianship "Warka" and waving his elimination

  1. #11
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    I had thought of that but came up empty,,,could be almost anything,,, did he know the cbi was going to put warka under guardianship if the deal fell through? The cbi waited until talks with SC were dead correct? If I was in his shoes and knew I would have taken the SC $$$,,,unless he didn't believe it would happen (they can't do that to me!)

    the next few months will be interesting for sure,,,I wonder what Bunnia et al proposed?
    Last edited by Brazileiro; 12-20-2012 at 08:56 PM.

  2. #12
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    I agree Fishindinar, just doesn't make sense to lose it all when there is a solution.
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  3. #13
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    I smell a rat named Maliki behing this. If my withering memory is right, isn't Al Bunnia an Sunni? If so, maybe the Shiite majority of Iraq (and Iran) wants a Shiite majority holder of the largest bank in Iraq. I, like many, thought that Warka stock would be the safest stock to load up on and I certainly was one of them. I still find it hard to believe that Mr. I is still working for them. He's too smart and good at what he does to go down with this Iraqi Titanic.
    The POTUS, Barack Hussein Obama, (aka Barry Soetoro) continues to prove that he is now the MOTUS - Marxist of the USA with much more collateral damage yet to come.

  4. #14
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    if its a show of power and warka fails then Iraq really is stuffed

    however if they sell the bank to the likes of SC then the $200bil will be repaid in a jiffy and Al-Bunia will lose his holdings

    I hope !!

  5. #15
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    I believe you're right about the CBI's intentions. It seems to me, IMHO, that Al Maliki and company wanted to eliminate Saad Al Bunnia's majority ownership of Al Warka all along. When they were presented with the opportunity to create a problem for Al Bunnia, they took it. Their intention was to (1) create the situaton whereby the CBI takes over custodianship, (2) make it impossible for Al Bunnia to come up with the cash/investments to maintain sufficient reserves, (3) force him out of majority ownership, and (4) get another group of buyers/investors to take over majority ownership of Al Warka.

    Very likely results of CBI custodianship: (a) New investors maintain shareholder value of Al Warka bank, and maybe even increase it, (b) account holders will be protected, and hopefully, stock investors under custody of Al Warka Investment arm of the bank will be protected also, and (c) Al Bunnia is a non-player with Al Warka.

    Just my 2 dinars worth.

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  6. #16
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    Unless he already raided Warka, I can't see anyone just walking away from owning a bank.
    " Never forget everything Hitler did in Germany was legal " ---Martin Luther King jr.---

  7. #17
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    The Bunnia family has deep pockets and banks are very profitable.

    http://www.albunnia.com/
    " Never forget everything Hitler did in Germany was legal " ---Martin Luther King jr.---

  8. #18
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    Quote Originally Posted by Fishindinar View Post
    The Bunnia family has deep pockets and banks are very profitable.

    http://www.albunnia.com/
    that website gives that appearance

  9. #19
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    so how come they dont pay back the money ?

  10. #20
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    Good Point!! Fish..
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