14.10.2008 - Sovereign funds lose 22bn on bank bets
From Thisismoney.co.uk: As Barclays turned down taxpayer money and sought foreign investment, the extent emerged of the losses made by sovereign wealth funds betting on Western banks. Investors from China and Singapore to Abu Dhabi and Qatar have lost $38.83bn (22.59bn) buying into banks since the start of the credit crunch last summer. The Qatar Investment Authority has already ploughed $4.52bn into Barclays, taking a 7.99% stake that has lost $1.74bn in value as the bank's shares tumbled. Qatar has also suffered losses investing in the London Stock Exchange. .... Full Article: Source
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