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Palm Island Dubai

Dubai Bankruptcy is a Taste of Things to Come

The next few hours are vital to understanding whether tremors in Dubai will trigger the next round of global financial panic. No seismic event in the markets (be it a crash or rally) is complete without Wall Street, but the New York Stock Exchange was closed for Thanksgiving yesterday, leaving everyone unsure just how jittery big investors really were and making it hard to contact banks to check their exposure.

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