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Citigroup Inc: Insider Trading
03/02/09 HERNANDEZ RAMIREZ ROBERTO Purchase 6.00 Mil $1.25 7.50 Mil
Roberto Hernández Ramírez
Roberto Hernández Ramírez (b. 1942 in Tuxpan, Veracruz) is a Mexican businessman. He is a former CEO of Banco Nacional de México (Banamex), Mexico's second largest bank, just after BBVA Bancomer, from Spain. He is currently a member of the administration board of Citigroup, as well as the owner of El Tamarindo Beach and Golf Resort, a hotel where French President Nicolas Sarkozy was hosted during his stay in Mexico in March 2009 .
Roberto Hernández is widely known to be one of the greatest philanthropist in Mexico . Beside hosting Nicolas Sarkozy in March 2009, he also hosted a meeting in Mérida between US President Bill Clinton and Mexican president Ernesto Zedillo in 1999, which was about the "war on drugs" . At the same time of that meeting, in 1999, a Mexican local newspaper, Por Esto!, published by Mario Menéndez Rodríguez, published a story alleging that Ramírez had been involved in drug dealing and money laundering . According to the newspaper, "coastal marshlands purchased by Hernández in the late '80s and early '90s were the port of entry for massive volumes of coc aine delivered in small Colombian speedboats." . In 2007, Ramirez against hosted, in Merida, a meeting concerning US and Mexico drug policies between George W. Bush and his counterpart Felipe Calderón .
Por Esto! also filed federal criminal complaints against Hernández for drug trafficking, for the robbery of national archeological treasures (his properties include the ancient Mayan ruins of Chac Mool), and for the environmental destruction caused by the drug-dealing operations to the Sian Ka'an nature preserve . Following several articles, Ramirez and his bank, the Banco Nacional de Mexico, deposed a courtsuit against Por Esto! and Al Giordano, a drug expert who had published a story concerning these allegations in Narco News. Both Mexico and the Supreme Court of the State of New York disavowed Ramirez .
Citigroup Executives Score $2.2 Million Betting on Own Stock
The executives, including director Roberto Hernandez, benefited as the company’s stock climbed 47 percent from March 10 through yesterday’s close of markets, after Chief Executive Officer Vikram Pandit said in a memo that the bank is having the best quarter since 2007. Their buying spree was the first by bank insiders since Jan. 14, filings show.
“You’re supposed to buy when everyone else is selling,” said Bruce Foerster, a former Lehman Brothers Holdings Inc. managing director who now runs South Beach Capital Markets in Miami. Banks have internal systems to monitor executive trades and prevent abuses, he said.
Originally posted by Hastobemoretolife
Aye, Aye Aye, you know things are bad when John Stewart is giving a real interview. He interviewed Jim Cramer and they are playing it now. Of course it has some funny comments from John, but for the most part it is a serious interview.
I just started watching the markets, but is it normal for the futures to be going down while the foreign markets are going up?
[edit on 12-3-2009 by Hastobemoretolife]
Originally posted by XTC_savedmyLife
Look at this boys
type in code 8710 for Citi
News is that they are not taking bail out money
Dow 8000!!!!!!! HERE WE COME