While we in America prepare to stuff our faces, the rest of the world is giving Dubai the stinkeye (and the dollar is continuing to die in a fire, so yeah, even though our markets are closed we’re losing plenty of wealth today, too): Dubai World, the government investment company burdened by $59 billion of [...]
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Surprisingly, the US still gets a AAA sovereign rating from Moody’s despite being in debt for more money than exists and needing to borrow more as time goes on, until things get right many years from now. What’s more, the rating isn’t expected to change for another year and a half. Wish I could get [...]
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Fannie Mae and Freddie Mac bonds are no longer good enough for Russia’s National Wealth Fund, which did not actually single out those two agencies but instead banned investment in any foreign government agency’s bonds. The nation’s Reserve Fund has also been cut off from such bonds. Only through hard work and sacrifice will our [...]
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What Barclays has pulled out of a hat most recently is capital, namely up to £7.3 billion dollars from Qatar and Abu Dhabi that gives the two countries’ sovereign wealth funds a bevy of warrants, short-term convertibles and some reserve-capital instruments with a whopping 14% coupon, and – assuming all is excercised – over 30% [...]
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Sovereign wealth funds, not single white females. Carla Bruni would probably cut him one. I found this on ContrarianProfits: Addressing the European Parliament, President Sarkozy implored his European contemporaries to embrace the current period of economic upheaval as an opportunity to restructure the global financial system. According to the Daily Telegraph, he also articulated the [...]
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