Wednesday, December 2, 2009

Alwaleed Says ‘Mature’ Banks Made Wrong Assumptions on Dubai -

Several days ago, I stated that while the Dubai default was bad news, it should have been no surprise.

At least one commentator agrees
Prince Alwaleed bin Talal, the billionaire Saudi investor, said banks that loaned money to Dubai World can’t claim to be victims of the emirate’s debt crisis because they should have understood the risks.

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