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Why So Few In Dubai Saw The Debt Crisis Coming

• waterlesscloud 17y ago
  "The US rating agency Moody's has warned that Dubai faces a "systemic increase in debt" after borrowing abroad on a huge scale to fund its construction boom, raising the risk of a financing crunch unless richer neighbours in the United Arab Emirates offer support." - Oct 13, 2008. Yes, 2008. Who didn't see it coming? http://www.telegraph.co.uk/finance/globalbusiness/3191538/Dubai-debt-risk-as-crisis-rocks-Gulf-banks.html http://www.telegraph.co.uk/finance/globalbusiness/3191538/Du...