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Super Patriot Neil Cavuto Has No Problem With Abu Dhabi Rescuing Citigroup and the U.S. Stock Market

Reported by Melanie - November 27, 2007 -

News broke this morning (November 27, 2007) that a "United Arab Emirates investment fund," the "state-run Abu Dhabi Investment Authority (ADIA)," would help bail out a premiere U.S. company, Citigroup, and "become one of Citigroup's biggest shareholders, in a 7.5-billion-dollar deal that will help shore up the ailing US bank's coffers."

One of the greatest companies, and the most lucrative stock market in the toughest, strongest country the planet has ever known (as Fox would tell it) gets bailed out by Abu Dhabi? Neil Cavuto, Fox's "business news" anchor was outraged, right?

Wrong. After opening with a FOX NEWS ALERT and a blurb about the death of Sean Taylor and one about rioting by the ungrateful people of the West Bank over the Annapolis "peace conference," Cavuto finally reported the Citigroup deal. Here's the totality of his report:

Wall Street. The come back after the correction. Stocks rally by almost the same amount they fell 24 hours earlier. Credit, yeah, those of the Mideastern buyers, the investment arm of the Abu Dhabi government scooping up a big chunk of Citigroup which helped bank stocks, brokerage stocks and today, well, a lotta stocks.

Later, during a roundtable discussion about foreigners buying our assets (a Dutch company recently bought a stretch of freeway in my area), Cavuto concluded that this is a "sign" that "the smart money's coming in."

Comment: So where's the outrage? Why aren't the uber-patriots at Fox screaming and yelling? Citigroup, yes Citigroup! needs help (that's bad enough) and it gets bailed out by the UAE?! I guess flag waving only applies in certain circumstances. When the world's bazillionaires are in trouble -- the crowd Rupert Murdoch and Bush Co. hang with -- bailouts are nothing more than the "smart" guys "coming in" to help their buds. (I'll be sure to link to this post the next time Cavuto spits on Katrina victims who won't suck it up and quit whining.)