I want to loan to Dubai someday.
Actually, not really, because they just said they don’t want to make payments on their bills any more. Word in the office is we have huge exposure here :tdown:
LMAO. Nice title.
Dubai makes me think of the saying “ashes to ashes, dust to dust”.
$17 billion exposure for HSBC 
ouch
edit: oops, this is geehee
That’s pretty significant, considering that the total amount of debt owed is ~$59b.
Why is HSBC holding almost 29% of their red ink?
So that’s like, what, our total midwestern circle track rehab budget? Chump change…
The 17B exposure is to the Dubai state. The $59B total debt is just for Dubai World, which is a state company and the only thing “officially” restructuring right now. Their parent and other state-run companies owe a hell of a lot more which is viewed as equally troubled.
$59b blah thats pocket change man. We owe trillions.
Lol. Suck to be them.
Any camels being liquidated at a good price?
Might this be the straw that broke the “camel’s” back?
I thought they needed oil prices to be at a certain level, and oil has been lower than expected so that is hurting them.
HSBC has a shitload of exposure on this one…
So wait, spending a bazillion dollars to build palm shaped islands in the ocean to build a resort on isn’t a good business plan?
Zing!
Meh, there are nicer islands, architecurally…
Does anyone remember Obama signing a $900b bailout bill that has not had any effect AT ALL?
$59b isn’t even close to the nearly trillion dollars a year we pay in interest on our debt.
Wait… Who signed the bailout bill?
http://money.cnn.com/2008/10/03/news/economy/house_friday_bailout/index.htm?postversion=2008100309
Nope. That musta been when Obama went to war with Iraq.
Annnddd there goes the thread…