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Compared with all of the debt I hear about, $80bn sounds like a drop in the bucket.  What's the concern?

In the end, might makes right. Nothing has changed since the caveman.
by THE Twank (yatta blah blah @ blah.com) on Sat Nov 28th, 2009 at 07:34:05 AM EST
[ Parent ]
Banks that have no slack in their systems and have come close to collapse have lent Dubai money. If it goes pop, it takes several other Dubai based businesses with it, they all owe money to banks, who suddenly have another crisis on their handsand round and round we spiral toards the plughole.

Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Sat Nov 28th, 2009 at 08:14:35 AM EST
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Wow!  What genius who invented this system do I send a Christmas card to?  Brilliant!

How about wood soaked in gasoline for building new homes?

In the end, might makes right. Nothing has changed since the caveman.

by THE Twank (yatta blah blah @ blah.com) on Sat Nov 28th, 2009 at 08:27:21 AM EST
[ Parent ]
Fears over the extent of their exposure to Dubai's $80bn debt knocked nearly £14bn off their value by the end of the day.

Well, £14bn ($23bn) is a substantial fraction of $80bn. This assumes 72 cents on the dollar will be recovered from Dubai's debt.

En un viejo país ineficiente, algo así como España entre dos guerras civiles, poseer una casa y poca hacienda y memoria ninguna. -- Gil de Biedma

by Migeru (migeru at eurotrib dot com) on Sat Nov 28th, 2009 at 08:32:18 AM EST
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