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Bahrain's royal family tired of Michael Jackson's "freeloading ways"

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Bush_Eats_Beef Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Feb-17-06 05:05 PM
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Bahrain's royal family tired of Michael Jackson's "freeloading ways"
http://www.salon.com/ent/col/fix/2006/02/17/fri/

Citibank to Jackson's rescue: Facing the possibility of foreclosure on his assets on Feb. 20, Michael Jackson appears to have found a savior in Citibank for his complicated financial woes. The erstwhile pop star owes $270 million in loan debt to a group called Fortress Investments, but Sony -- interceding on Jackson's behalf -- has negotiated a deal with Citibank to buy the loans and stave off foreclosure. As Fox 411 points out, the deal won't get Jackson totally out of the woods: "Jackson will still owe the bank $270 million, and won't be able to borrow any more money. Interest will keep mounting, as well, which Jackson will have to pay." Either way, Jackson needs to find a way to make some money, quick; a Bahrain insider tells Ted Casablanca that the country's royal family -- who've been looking after him for months -- are just about fed up: "They're getting tired of his freeloading ways." (Fox 411, The Awful Truth)

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