something is rotten... We are being robbed and the money is all being sent overseas....
I just don’t get it....
It’s almost like we lost the a war and are paying reperations... but I don’t remember losing any war.
Our treasure is being looted right in front of our eyes in broad daylight, and no one is saying anything about it.
NOTE THAT CITIGROUP HAS MAJOR EXPOSURE TO DUBAI WORLD. Yes THAT Citigroup, which the US government owns a huge chunk off thanks to the bailout courtesy of you and me.
And while UK banks, such as Standard Chartered, HSBC (HBC), Royal Bank of Scotland (RBS) and Barclays (BCS) are much more exposed to Dubai World, with a total of more than $30 billion in default risk according to J.P. Morgan’s note, U.S. banks have extensive dealings with UK institutions. Those include trading and guaranteeing debt, which could translate into losses for U.S. banks.
There’s also U.S. banks’ interactions with their German counterparts. Dubai has loaned a lot of money to Eastern European nations, as has Germany. Any losses from defaults there could expose U.S. banks to some risk.
Finally, there’s the impact of already reeling commercial real estate markets worldwide.
WE ARE ALL INTERCONNECTED FOLKS, and we haven’t seen the last of this real estate crisis yet.