Analysts say financial woes could delay recovery of banks.
RealClearPolitics – Dubai Debt Woes Raise Fear of Wider Problem
Of the many economies that gorged on debt in the boom years, Dubai stood out. In the space of a few years the emirate’s investment arm, Dubai World, racked up $59 billion in debt, borrowing to build lavish developments like a giant …
Dubai Jitters Infect Debt of Sovereign Spendthrifts : THE TEMASEK …
The Dubai government roiled markets this week with its move to delay debt payments owed by its flagship holding company, Dubai World. The company is stressed by tens of billions in debt that funded spending on glitzy real-estate …
Investors.com – Republic Of Debt
After all, Dubai’s total debt of $60 billion or so is but a rounding error on the U.S. deficit of $1.4 trillion in fiscal 2009. Yet world markets plunged sharply when Dubai announced that its debt-fueled building boom had left it unable …
Obama administration closely monitoring Dubai debt outlook | McClatchy
The Obama administration said Friday that it’s carefully watching developments in a looming debt default by the Persian Gulf emirate of Dubai, whose efforts to fend off creditors sent stocks skidding in the United States and around the …
Are Lawyers “Debt Relief Agencies”? | SCOTUSblog
They filed a suit against the United States seeking a declaratory judgment that attorneys are not required to comply with several provisions of the BAPCPA, including Section 526(a)(4) – which precludes a “debt relief agency” (DRA) from …
The Mess That Greenspan Made: The Dubai debt comes due
In a story that sounds all too much like that of a U.S. real estate agent who, after a couple of good years in the middle of the decade decided to get levered up to the maximum banks would allow rather than paying down their debt only …
European banks have large exposure to Dubai debt — DailyFinance
JP Morgan (JPM), RBS (RBS), Credit Suisse (CS) and several other large firms with financial research arms have put out educated guesses as to which banks are most exposed to Dubai debt. Coming up with these numbers has turned out to be …
Calculated Risk: UBS Analysts: Dubai Debt may be more than $80 Billion
“Perhaps Dubai’s debt includes sizeable off-balance sheet liabilities that imply a total debt burden well above the $80 billion to $90 billion markets have estimated so far,” real estate analyst Saud Masud wrote in a note yesterday. …
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