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May 2017
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Moral Hazard of not helping Dubai

                There are deep underlining moral hazards for us if we do not help Dubai with its financial difficulties.  I’m not sure how the debt got so out of control or who participated on the ill fated funding strategies, but the cultural loss would be devastating.  Dubai is one of the most progressive Islamic nations in the world.  Dubai is not just tolerant of religious differences but also in the way they treat females.  The country pays high wages and no taxes leading to a healthy middle class.  They believe that no matter what personal differences you have, you can resolve the issue in peaceful means.  On top of all those reasons, we also need to understand how the decision to not help them would be interpreted throughout the Arabic world.

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