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Prince Alwaleed on avatar, taxing banks (against), and across board taxes (for)

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The Straight Story Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 02:48 PM
Original message
Prince Alwaleed on avatar, taxing banks (against), and across board taxes (for)
Prince Alwaleed bin Talal is chairman of Kingdom Holding Co., a Saudi firm with billions invested around the globe. He is ranked among the 25 wealthiest people in the world and is the largest single investor in embattled Citigroup (C), which just posted a $7.6 billion net loss for the fourth quarter. It is said that his displeasure with another Prince, Chuck Prince, contributed to the ouster of the Citi CEO in late 2007. The economic crisis has taken a toll on Prince Alwaleed's holdings, and he recently injected nearly $600 million of his personal wealth into his firm after a year of steep losses. He is a nephew of King Abdullah of Saudi Arabia and one of the most outspoken members of the royal family. I talked with the prince on Jan. 15.

...

What's your reaction to President Obama's plan to impose a tax on banks?

I'm against that. The banks, with a few exceptions, have gone through major crises. So while these banks are just coming out of the ICU, you bang them with another tax? I believe it's premature and unwarranted...and more of a vendetta against those banks that are still giving extravagant bonuses to their management.

....

And you are heavily invested here.

Yes, sir. You know, the United States is going to be the leader of the world for many years to come. But when you have a country that has $14 trillion of cumulative debt, that's not good.

So what should happen?

I'm not the U.S. President...but taxes have to be raised across the board.

....

Have you seen the Fox movie Avatar?

I had to see it before I met Mr. Murdoch. If I didn't, he would be upset.

Did you like it?

Well, it was the first time I've seen a science fiction movie. What I like is the fact that people like it and it will gross more than $2 billion and could possibly add $400 million to the bottom line of News Corp. Imagine that. Whether I like it or not I will keep between me and Mr. Murdoch.

http://www.businessweek.com/magazine/content/10_05/b416...
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Marr Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 02:51 PM
Response to Original message
1. Maybe he'll buy a few Senators next year to push his tax ideas.
We can call it "foreign investment".
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timeforpeace Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 02:52 PM
Response to Original message
2. That last reminds me of "If you could be a tree, what kind would you be?" Great moments in
journalism.
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The Straight Story Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 02:54 PM
Response to Reply #2
3. He is second largest shareholder in news corp (nt)
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timeforpeace Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 03:30 PM
Response to Reply #3
4. Then it is germane, isn't it?
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JDPriestly Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 04:29 PM
Response to Original message
5. This is the guy the Fox audience is voting for.
If they only knew that they are watching programming funded by a major leader in the Muslim religion.

This is so funny.

Everybody in D.C. is where they are only so long as this guy keeps them there.

This is the guy who really runs our country.

I've been wondering what he is like.

It's this guy (and others from the Middle East) who are behind the ideas of shipping our manufacturing to China, outsourcing, destroying our country.

I have to laugh at his reaction to the idea of taxing the banks.

He should come over here and talk to some ordinary people on Main Street.

Look, Mr. Saudi Arabian prince, the only people in the U.S. who still have any extra cash are the bankers. The rest of us don't have anything to tax.

I get less than one dollar in interest per month on a bank account with over $10,000 in it -- in one of the major banks.

Mr. Prince, we have not income to tax. We already pay taxes on our property. It's your turn to pay the taxes -- or get out of the country and take your outsourcing and your values and everything with you. Leave us alone. We do not want you.
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blm Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 04:58 PM
Response to Reply #5
10. Kingdom Holdings also has a large share of AOL/TimeWarner/CNN. THAT is why corpmedia
Edited on Mon Jan-25-10 05:31 PM by blm
protected/protects BushInc almost always.
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timeforpeace Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 06:13 PM
Response to Reply #10
14. Is it also why "corpmedia" wants to see taxes raised?
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blm Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-26-10 08:13 AM
Response to Reply #14
15. raised on everyone to spread the burden onto the working class, but, NOT on FINANCIAL INDIUSTRIES.
Gee...you want to spin FOR the corpmedia and pretend they WEREN'T carrying water for BushInc all these years? Why don't you pretend Kingdom Holdings... and GE... and Murdoch... and other fascists care about working class while you're at it?
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girl gone mad Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 05:53 PM
Response to Reply #5
13. I have a tiny bit of insight.
A friend lived in a building in which the Prince owned two floors of condos (including the penthouse) that were used as a place for his wives and their security staff to stay when he came to town, maybe 1 week out of the year, if that. They were all friendly, but the wives were shut-ins, according to my friend.
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JDPriestly Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 04:51 PM
Response to Original message
6. K&R
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Hello_Kitty Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 04:54 PM
Response to Original message
7. K and R. eom
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Christa Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 04:54 PM
Response to Original message
8. K & Highly rec'd nt
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annabanana Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 04:57 PM
Response to Original message
9. "But Fox is the only one telling the truth"
Dear God how stupid are those people?
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abelenkpe Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 05:10 PM
Response to Original message
11. Well....
I believe it's overdue and warranted...and definitely a vendetta against those banks that are still giving extravagant bonuses to their management.



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JuniperLea Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-25-10 05:15 PM
Response to Original message
12. Scary as all hell...
I'm NOT kidding.
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