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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: FJB who wrote (335906)11/26/2009 9:11:06 AM
From: LindyBill1 Recommendation  Read Replies (1) | Respond to of 793955
 
The government of Dubai shocked financial markets on Wednesday when it said it would ask creditors of its Dubai World conglomerate for a debt moratorium of at least six months.

Land of the indoor ski mountain and the offshore island condos. The Euro golf tournament is in deep doo-doo. It will be all "we should have seen it coming."

When are those Arab leaders going to realize they need some better schools for their business people?



To: FJB who wrote (335906)11/26/2009 10:02:08 AM
From: DMaA  Respond to of 793955
 
Well, that's how the US Treasury does it. Borrow money to finance its debt.

Dubai added that it had raised [borrowed] five billion dollars in a new bonds issue aimed at helping meet its debt obligations.


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