FinancialSpiltMilk submits:

It seems that Dubai World seeking to restructure its billion in debt came as a big surprise, especially to those at Barclays Capital (BCS) who just a few weeks ago recommended investing long in Dubai sovereign credit. If one were a cynic one might think this was somehow tied to the heavy exposure Barclays had to Dubai. Naah, that would never influence their recommendations.

Now I am not sure what about this outfit would ever make one suspect it was in financial problems. After all, it only built the biggest skyscraper in the world, created palm tree shaped man-made islands and had the most construction cranes going anywhere in the world, all built on tens of billions of debt. Add to that the current financial squeeze during the worst economic recession since the Great Depression and I can see where everyone seems surprised at their financial situation. Frankly, I am only surprised that others are surprised that Dubai World is in economically tough straights. Remember 2+2=4.

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