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To: FromLori

http://money.cnn.com/2009/11/27/news/companies/Dubai_bank_risks/index.htm

The state-run investment company, Dubai World, owes about $60 billion. It rang up much of that in a building boom that included the world’s tallest skyscraper and the Palm Islands in the Persian Gulf, settlements shaped like palm trees.

According to CMA DataVision, which tracks credit markets, there’s a 35.82% probability that Dubai will default on that debt.

New York-based Citigroup (C, Fortune 500) has the most exposure to default risk at Dubai World, which a J.P. Morgan (JPM, Fortune 500) equity research note estimated at $1.9 billion.

NOTE : CITIGROUP ( which is practically owned by the AMERICAN TAXPAYERS ). More bailouts for a bad decision ??


37 posted on 11/28/2009 7:04:49 AM PST by SeekAndFind (wH)
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To: SeekAndFind

Zero Hedge has a piece scroll down thru the comments this is just one of them

Damage Control team are hard at work... Just like after Lehman/Bear collapses.

I find this interesting:

NY times saying Citi Bank only has $1.9B under loan.

http://www.nytimes.com/2009/11/28/business/global/28dubai.html?hp

Dennis Kucinich says otherwise.

http://www.7days.ae/storydetails.php?id=75035&title=US+outrage+over+Citi+loan

http://www.zerohedge.com/article/abu-dhabi-unlikely-pay-all-dubais-debtsgraciously-assisting-sovereign-brother-select-one


39 posted on 11/28/2009 8:59:49 AM PST by FromLori (FromLori)
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