Loading ...We here at Alphas Edge as confused how Dubai World apparently is in danger of defaulting. Its credit swaps are souring day by day as debt payment plans are unclear. There is so many questions that should be asked, but one rises above all. How in the world are some of the richest people projects in danger of defaulting. Oh, wait; let me have a crack at that. The projects were founded to a corporation, so the debt obligation was actually passed on to the public. While the innovators of the project had first dibs on the profit, they have no stake on the liability. Jeez, talk about a blow to financial markets. If even the very rich is having problems paying back debt, how about Carlos in the US that got offered a 750K mortgage while earning a strawberry pickers wage. At least we got them back for 9 11 financially!
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