17 Replies to “Dubai”

  1. Citigroup took $10s of Billions in TARP funds and lent $8 Billion to Dubai, which means under SCF that they bought a piece of Dubai.
    I guess that means the U.S. government could build a naval base there if they saw the need.
    Oh wait, that TARP money is actually owed to China.

  4. Oz, why would Citigroup “lend” $8,000,000,000 (is that enough zeroes?) to Dubai? Why would anyone lend to Dubai? my economics basically stops at my front doorstep. “If we can’t afford it, we don’t get it”

  8. Oz, I’m not doubting you but the sheer scope of it is utterly mind boggling. simply mind boggling.

  11. Sharia compliant finance is a fact of life in the Middle East and its push for Dubai to be a World Financial Center. Indonesia and Malaysia also has sharia compliant financial products. GE recently issued compliant Bonds. They are not a threat to anyone any more than western financial products, but they do pose a risk for the uneducated investor becuase they are structured differently.
    I would be outraged if sharia compliant loans and bonds start being issued here.
    Muslims deserve to invest in failing businesses that can be usurped by democratic or not so free Governments as much as we in the west are permitted to.
    Why should they not be pushed aside in favour of political paybacks and future favours and lose their money at the stroke of a leader’s pen in the name of the collective?
    The one case I know of that went to court was resolved in the bondholders favour. Just like we USED to do in the west.

  12. Arabian tinpot kingdoms awash in petrodollars. Huge western pension funds awash in contributions. Both need to leverage their investments by borrowing even more so they can invest in risky real estate and high return houses of cards.
    Let me try that again: Arabian tinpot kingdoms……
    Oh! Corruption! Fortunes made! Just like sub-prime mortgages! Green utilities! Cap and trade! Climate change! Now I get it!

  14. scatch a ponzi scheme, find a nest of lefties
    t’is the leftist attitude that allows such nonse4nse on OUR shores
    I read about sharia finances a while ago, and thought WTF???
    the west should stay away fron such foolishness!!

  17. Bizarre as it may seem this does not constitute too much of a problem. Dubai World runs all the ports—-take it as defaulted collateral.
    As Hitler remarked about the Vatican—-“…how many divisions do they have?”
    Despite their track-record, most americans would be more comfortable with Citi-Bank, rather than Dubai, running the ports.

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