Dubai Buys 20% of Nasdaq, 28% of London Stock Exchange

In a complex set of transactions, Dubai is moving to acquire 19.9 percent of the Nasdaq in New York, placing the Arab government in an ownership position of the key U.S. stock exchange and raising concerns in Congress.

As a result of the transaction, Dubai also will acquire 28 percent of the London Stock Exchange, one of the oldest and largest in the world.

The transaction is being made through Borse Dubai, a holding company 100-percent owned by the government of the Emirate of Dubai and controlled by Mohammed bin Rashid al-Maktoum, the head of the Dubai ruling family.

DUBAI RAISES FLAGS IN CONGRESS

I believe Catherine Austin Fitts is going to be discussing this tonight on Coasttocoastam. She's a darn smart lady and should be worth listening to. I believe she is a former undersecretary of housing in one of the Bush administrations, and a sharp critic of what she considers the looting of taxpayer's money by uh . . . all and sundry.

[edit on 22-9-2007 by ipsedixit]