Friday, December 04, 2009

Dubai, The Real News Story

According to recent reports, the Dubia debt problem is a shock to the
financial world for many reasons. You all know about the denial of
other UAE city/states to bail them out, and you've seen the 'bling-
bling' nonsense taking place in Dubai. But I never knew that the
funding was based on a scary assumption - their UAE partners would
bail them out. It appears that you can get money as long as you know
someone who has money. It doesn't have to be documented, just
understood.

Wow

http://www.nytimes.com/2009/12/04/world/middleeast/04dubai.html?ref=business

Sent from my iPhone

- Kenyatta Lovett

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