Merrill Lynch & Citibank Reported Helping Sell US Coal Mines To India

[bananas]

http://www.treehugger.com/files/2008/10/merrill-lynch-citibank-reported-helping-sell-us-coal-mines-india.php

Merrill Lynch & Citibank Reported Helping Sell US Coal Mines To India
by John Laumer, Philadelphia on 10.25.08

You can't make up stuff this good. Mortgage derivatives are down the tubes, making easy money scarce. Not to worry. US and Canadian coal mines are a hot commodity for Indian buyers who might benefit from the guidance of skilled bankers and investment analysts.

"Faced with an imminent coal shortage of around 200 million tonnes by the end of the 11th Plan, International Coal Ventures Limited (ICVL) - the 5 PSU member SPV- is now scouting for coal assets, properties and mine takeovers in US, Canada and Indonesia. A delegation consisting of the Union minister of state for coal, Santosh Bagrodia and Coal India chairman, Partha S. Bhattacharya was recently in the US looking for such overseas ventures to meet future coal shortages in the country."

Among the financial institutions reported to be assisting the prospective coal mine buyers from India are UBS, Merrill Lynch, and Citibank. "The focus was primarily on the swift identification of coal properties and assets...."

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[truedelphi]

1. Liars & Thieves Inc Has Just about Stolen or Sold anything

That was not nailed down, and a few things that were.

But hey, I am sure that the Bailout package funds that just got voted for will be carefully looked over by these people. (Or maybe I should say, picked over?)