Posted on 12/31/2009 8:48:22 AM PST by LSUfan
News of the recent financial meltdown of Dubai World -- a quasi-sovereign global concern that owns 77 percent of the international port manager DP World and the single largest real estate developer in Dubai known for its palm-tree shaped luxury residential developments -- raced from the business pages to the headlines of the front pages in a matter of days.
Since the first reports on Thanksgiving, the Wall Street Journal and just about every other major media outlet reported extensively on the worldwide implications of this latest financial shock wave.
What makes this story more than simply one of a massive real estate investment company gone bad is the double-edged sword so prevalent in the chase for oil-based Middle East wealth: Sovereign wealth funds and Shariah-compliant finance.
(Excerpt) Read more at washingtonexaminer.com ...
From Mish...
Congressional Legislation Introduced By Barney Frank Pre-Approves $4 Trillion For Next Crisis
Barney Frank introduced H. R. 4173 purportedly “To provide for financial regulatory reform, to protect consumers and investors, to enhance Federal understanding of insurance issues, to regulate the over-the-counter derivatives markets, and for other purposes.”
The bill is 1,279 pages long. I did not read it in entirety but Bloomberg columnist David Reilly did. It is amazing the things Barney Frank buried in a bill that is supposed to protect consumers. The bill does nothing for consumers, but does allocate $4 trillion to fighting the next financial crisis.”
With friends like Barney, who needs enemies?
Sharia compliant companies with which to avoid doing business include:
Caibou Coffee.
If you have to suck up to terrorist malcontents to get capital, you can drink your own damned coffee.
Also known as Cariboom Coffee
It took 40 years for the asinine effects of the "Great Society" to run the national debt to $5 trillion around 2000. Obama and the RATS have it doubled to around $13 trillion. Frank is ready for another $4 trillion. Idiots. Our currency is being transformed into monopoly money.
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