This morning’s financial news is dominated by fears that the state-owned Dubai World is about to default on its debt repayments.
And guess which bank has the largest exposure to Dubai World? Of course, that’ll be good old Royal Bank of Scotland, underwritten by the British taxpayer.
Don’t worry, though, because RBS has only lent £2.2 billion to Dubai. That’s [...]
Read the complete post at http://flipchartfairytales.wordpress.com/2009/11/27/the-financial-crisis-is-not-over-yet/
Posted
27 Nov 2009 3:27 PM
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Flip Chart Fairy Tales
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