Saudi investors 'could withdraw US funds'

bbc ^ | 8/19/02

[holyscroller]

"The Saudis do have the right to withold oil which would be their logical move."

Good, then that will force our gutless wimps in Congress to finally open the Anwar to drilling.

[defenderSD]

They can do some damage but not in the $1 trillion range. They won't dump their stocks rapidly because that would depress prices too much and cost them a lot of capital losses. Instead they would sell gradually into the usual Wall Street rally in late Fall and Winter. So buyers will move in as the Saudis exit, if they decide to exit. I don't think they'll do anything too soon because they'll want to see how the lawsuit proceeds before making any decisions. If they exit, they'll exit gradually to cause minimal damage to market prices (not for our benefit, but to cut their losses.)