October 14, 2008 at 10:00 AM EDT
What Banks Want
The world took a break from the Blame Game to break the banks and the market cheered. As it turns out action -- even action that could prove disastrous -- is better than blaming the impetuous man-child (America). I really had no idea how vulnerable the rest of the world was until recently with Iceland’s bankruptcy and the avalanche of bailout packages across Europe. Then there’s news that Dubai may have to bum a loan from Abu Dhabi. Say it ain’t so… Say Dubai isn’t some kind of smoke-and-mirrors city-state that just represents a different kind of bubble. The ...
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