Dubai Poised To Acquire Large Stakes in N.Y. Banks

New York Sun ^ | November 21, 2007 | NICHOLAS WAPSHOTT

[reuben kincaid]

Freaky times we live in. Investment bankers and hedge fund managers call the shots now...

[shadowcat]

what 6 ports?

[SpaceBar]

Investment bankers and hedge fund managers call the shots now...

CFIUS Member U.S. Secretary of the Treasury Henry Paulson Jr., former Chairman and Chief Executive Officer of Goldman Sachs, one of the world's largest and most successful investment banks. Gee, no conflict of interest there.

[endthematrix]

"We’ve known this day was coming since the early 1970s."

I really have to post that old '73 article about how the Arabs should just buy Times Square.

[M. Espinola]

Prior to the subprime problems being brought to light for the general population, it’s very likely Citigroup had already made backdoor deals with Dubai’s banking interests. Trusting banks to inform the public the truth at this stage is not in the cards.

[valkyry1]

I think Dubai should have been granted the American ports deal, and they should get this New York Bank deal too.

Why? from what I know I do not see Dubai nor Qatar as tools of Muslim fanaticism, and we need to be developing new business partners whenever/wherever we can in our interest, especially nowdays.

[reuben kincaid]

Our banker who handles our business loans told us 3 years ago the sh*t was going to hit the fan re:subprime loans and it was common knowledge amongst the banking community. I have no sympathy for these clowns...

[STARWISE]

You know how Dubai is exploding
with huge capitalistic growth, poc ..
Rush mentioned how fascinating
it is yesterday. They are definitely
on a roll, and I can’t imagine they’d
go for anything like Achmanutjob or
terrorists that would dare put their
billions of investments at risk.

http://tinyurl.com/2c2ttr

Happy Thanksgiving. Any turkeys there ..
the gobble gobble kind ? ;)

[PrinceOfCups]

STAR(very)WISE,

Thanks for the information. Dubai won't remain a secret any longer. They will be the Swiss of the Middle East.

Plenty of Butterball turkeys (frozen) in the local markets; I plan to cook a 12-pounder up and enjoy the satisfaction of over-eating. Unfortunately, I'll miss the enhancement only provided by a deep red wine.

PoC

[Professional]

Foreigners have a near perfect history of buying our stuff on the expensive, selling it back on the cheap. And Americans have a near perfect history on buying foreign assets on the expensive, later selling on the cheap.

Come on in Dubai, the water is lovely...

[DoughtyOne]

Oh why bother, just post the article next year when that becomes a reality. LOL

[M. Espinola]

I agree, on a lower level when banks milk customers out of every dime via invented fees and charges everything underway now should not surprise anyone.

The worst potential aspect is the banking CEOs plotted this entire sub-prime real estate loan problem in order to get filthy rich, which they did, but now the thing is out of control effecting the domestic & global economy, the banker must not be allowed to worm their way out through an expected tax payer bail out, as has already transpired in the UK with Northern Rock.

One good item, at least your own banker actually told you the forecasted truth well in advance.

[ConsistentLibertarian]

Have you heard of “the Trade Deficit”? It’s when we buy more from foreigners than they buy from us. That leaves foreigners with lots of extra American dollars on their hands. And like anyone with lots of extra cash on hand, they want to put it to work by investing it. But the only way they CAN invest those American dollars is by buying American assets, like like American movie studios, ports and banks.

Eventually China will own more US businesses than we do if we don’t take care of our trade deficit, both past and present.

THAT’s an issue you should be concerned about.

Have you ever seen a thread on that topic? Me neither.

[ConsistentLibertarian]

“The Founding Fathers are spinning in their graves.

Nah. Jefferson tries to be lie real still so as not to attract notice. He’s worried one day people are going to realize he had no Constitutional authority to purchase Louisiana from the French. Irony is no one cares about that. All people want to talk about these days is rape and interracial sex. Go figure.

[Moonman62]

Dubai, a tiny country in the Persian Gulf with a matching small population, which is part of the United Arab Emirates, is cash-rich because of its vast natural reserves of oil.

Only 10% of Dubai's revenue comes from oil.

[Candor7]

Here come the Jihadis. They come here not to make silver and gold their focus, they come instead to work on the dhimmitude of America, and the establsihment of Sharia LAw. They are more than willing to pay the money to bring that about. Hang on to your hats, because they WILL be stopped.

[Moonman62]

I have no sympathy for these clowns...

I wish I had a dollar for every time a FReeper has said they have no sympathy for someone or some group of people.

[Candor7]

Here come the Jihadis. They come here not to make silver and gold their focus, they come instead to work on the dhimmitude of America, and the establsihment of Sharia LAw. They are more than willing to pay the money to bring that about. Hang on to your hats, because they WILL be stopped.

[Candor7]

Hell, this subject never comes up.>>>>>>>>>>>>>>>>

Not true. Duncan Hunter has been raging about this dynamic for 12 months, in every public appearance he makes. Duncans focus is on China, and their takeover of banking institutions with profits made on the backs of American consumers and off shore migrant US companies through their MFN status. He wants to end it, and he wants to drill in ANWAR.

Its just that you have not heard Duncan. Start listening to what he is saying. He saw this coming years ago, and it is one of the reasons he is running for the presidential nomination of the Republican party.

No other candidate has a handle on this.

They are all to busy kissing Arab and Chinese feet.

[Jimmy Valentine]

I would not worry. Title 12 of the Code of Federal Regulation which applies to banks starts at Regulation "A" runs through "Z" and on to "EE" (on beyond zebra).

Add to that Bank Advisories, Bank Bulletins, and Bank Circulars to adhere to and the Feds can tie you up so tight you can't breath.

I am thirty-five years in the business and would not get in to it as an owner today on a bet.