Wall St Woes • 24 September 2008 • The SnowBlog

Wall St Woes

Here's a fun perspective: "If the US doesn't bail out its own financial sector (by borrowing money it doesn't have) then the only people with enough money [to do so] are foreign sovereign funds and large investors. And they will bail it out for cents on the dollar at fire sale prices. The end result would be that New York is, definitively, no longer the world's financial center. Odds on favourite to be the new one? Dubai. London doesn't want the job (they want to be middlemen). Tokyo can't quite do it. Shanghai isn't ready. But Dubai is raring to go."


The SnowBlog is one of the oldest publishing blogs, started in 2003, and it's been through various content management systems over the years. A 2005 techno-blunder meant we lost the early years, but the archives you're reading now go all the way back to 2005.

Many of the older posts in our blog archive suffer from link rot. Apologies if you see missing links and images: let us know if you'd like us to find any in particular.

Read more from the SnowBlog...

« Old fashioned internet service
Affinity stats »