1) Greece is at serious risk of total economic collapse—Prime Minister George Papandreou is proposing dramatic spending cuts, and tax hikes on banker’s bonuses, to ease the crisis. 2) Dubai has been bailed out by Abu Dhabi to the tune of $10 billion. 3) From FP: “How we invaded Afghanistan” (the Russians) 4) The New […]
The banks thst lent about $40 billion to the state-owned corporation Dubai World must have figured, “Okay Dubai doesn’t have oil, but it’s part of a larger oil country (United Arab Emirates), and it’s in an oil region, and so they’re good for the money.” Apparently, no one thought that an enterprise based on ridiculously over-priced real […]