February 16, 2010, - 3:40 pm
Your Day in Dubai Deadbeatism: Muslim Emirate Stiffs Investors 40%
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Not only does the Muslim emirate of Dubai hate Jews (who–if they have an Israeli passport or stamp on one–are refused entry into the country a/k/a travel apartheid), it hates paying investors back. So, it’s stiffing them.
Laughing All the Way AT the Bank:
Sheikh Mohammad Bin Rashid Al-Maktoum, Dubai Ruler & Best Buddies
Yup, while the ruler and Princes of Dubai, the Al-Maktoum brothers, continue to live high on the hog (and mercilessly torture people just ‘cuz and get away with it), they refuse to pay back those from whom they borrowed. In fact the Princes’ government-owned Dubai World has announced it will only repay 60 cents for every dollar owed to creditors, including dhimmi Dubai investors HSBC Holdings, Royal Bank of Scotland Group, and Standard Chartered. Wow, I’d love to get $22 billion in cold, hard cash and only have to give back $13 billion. That’s a great deal.
And, unfortunately for them, these Islamo-pandering, shawarmeh-nosed lenders will probably have to take what these jet-setting, Jew-hating, anti-Israel Sheikhs give them, lest they get even less . . . or nothing. And on top of that, they have to wait seven years to get paid. Incredible. That’s what happens when you invest with anti-Semites. You get burned. G-d works in mysterious ways, suckers.
Is Dubai Next . . . or Just Its Dhimmi Lenders?
For Dubai World’s creditors, indignity piles upon indignity. News that the troubled state-controlled conglomerate plans to repay its lenders a meager 60 cents for every U.S. dollar they are owed is yet another blow for lenders who, until four months ago, assumed Dubai World’s debts came with an implicit sovereign guarantee.
Read the full Post
Tags: $22 billion, 60 %, 60 cents, 60 percent, Al Maktoum, Anti-Israel, anti-Semitic, banks, bills, creditors, debt, debtor, Dhimmi, dhimmis, Dubai, Dubai Deadbeatism, Dubai deadbeats, Dubai World, emirate, haircut, House Committee on Standards of Official Conduct, HSBC Holdings, investors, Islam, Israel, Jew-hating, Jews, lenders, Muslim, Nakheel, Royal Bank of Scotland, Royal Bank of Scotland Group, seven years, Sheikh Mohammad Bin Rashid Al-Maktoum, sixty percent, Standard Chartered