Prince Alwaleed on avatar, taxing banks (against), and across board taxes (for)

[The Straight Story]

Prince Alwaleed bin Talal is chairman of Kingdom Holding Co., a Saudi firm with billions invested around the globe. He is ranked among the 25 wealthiest people in the world and is the largest single investor in embattled Citigroup (C), which just posted a $7.6 billion net loss for the fourth quarter. It is said that his displeasure with another Prince, Chuck Prince, contributed to the ouster of the Citi CEO in late 2007. The economic crisis has taken a toll on Prince Alwaleed's holdings, and he recently injected nearly $600 million of his personal wealth into his firm after a year of steep losses. He is a nephew of King Abdullah of Saudi Arabia and one of the most outspoken members of the royal family. I talked with the prince on Jan. 15.

...

What's your reaction to President Obama's plan to impose a tax on banks?

I'm against that. The banks, with a few exceptions, have gone through major crises. So while these banks are just coming out of the ICU, you bang them with another tax? I believe it's premature and unwarranted...and more of a vendetta against those banks that are still giving extravagant bonuses to their management.

....

And you are heavily invested here.

Yes, sir. You know, the United States is going to be the leader of the world for many years to come. But when you have a country that has $14 trillion of cumulative debt, that's not good.

So what should happen?

I'm not the U.S. President...but taxes have to be raised across the board.

....

Have you seen the Fox movie Avatar?

I had to see it before I met Mr. Murdoch. If I didn't, he would be upset.

Did you like it?

Well, it was the first time I've seen a science fiction movie. What I like is the fact that people like it and it will gross more than $2 billion and could possibly add $400 million to the bottom line of News Corp. Imagine that. Whether I like it or not I will keep between me and Mr. Murdoch.

http://www.businessweek.com/magazine/content/10_05/b4165010350026.htm