Arabs are acquiring 1/5 of Nasdaq and 28% of London Stock Exchange. What's going on?

[Silver]

http://www.wnd.com/news/article.asp?ARTICLE_ID=57749

Posted: September 20, 2007
4:14 p.m. Eastern

By Jerome R. Corsi
© 2007 WorldNetDaily.com


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.

According to its website, Borse Dubai was created Aug. 6 as the holding company for Dubai Financial Market and Dubai International Financial Exchange in a move to consolidate the Dubai government's two stock exchanges "as well as current investments in other exchanges, expanding Dubai's position as a global capital market hub."

The announcement set off a firestorm of criticism in Washington, prompting President Bush to comment today in a news conference, "We're going to take a good look at it, as to whether or not it has any national security implications involved in the transaction. I'm comfortable with the process to go forward."

Does this make you comfortable?

[Silver]

1. What national security concerns are raised by allowing a foreign government to own U.S. financial exchanges?

2. Specifically, with respect to Dubai, are there national security concerns about this particular country's influence or control over a U.S. exchange?

3. U.S. exchanges are a critical asset to our national economic infrastructure. What implications would foreign government control or influence have on our economic security?

4. U.S. economic security depends on continued competitiveness in a global financial market. What impact will this transaction have on U.S. financial competitiveness?

5. If national and economic security concerns can be satisfied, should restrictions be placed on this transaction to limit Dubai's control and influence over U.S. exchanges?

[Silver]

http://www.cbsnews.com/stories/2007/03/12/business/main2558620.shtml

Halliburton is moving its headquarters to Dubai!

Halliburton's Dubai Move Sparks Outcry

Members Of Congress Criticize Move As Insult To U.S. Soldiers And Taxpayers

[otomik]

why do you hate arabs?
why do you feel they are not entitled to own property?

[Dirty Martini]

Maybe you (Silver) should actually learn something about Dubai's economy, culture, and demographics.

[Silver]

Bourse Dubai will wind up with a 19.9% stake in Nasdaq and a 28% stake in London Stock Exchange Group PLC.

The deal would make Dubai, part of the United Arab Emirates, the first Mideast government to hold a significant stake in a U.S.-based stock-market operator.

[Silver]

Maybe you (Silver) should actually learn something about Dubai's economy, culture, and demographics.


Amy, please tell us why you think Dubai's purchase would be good for the U.S.

[Dirty Martini]

And if you think the UAE, especially Dubai, is anything like Syria or Saudi Arabia, you need to do your homework.

[Dirty Martini]

Amy, please tell us why you think Dubai's purchase would be good for the U.S.

I didn't say it was. I just think you're being anti-Arabic without really understanding Dubai's economy or development plans. I also don't think that you understand how much foreign investment is in Dubai.

[Silver]

why do you hate arabs?
why do you feel they are not entitled to own property?

I don't hate anybody. How on earth did you come up with that "logic"?

[Silver]

I didn't say it was. I just think you're being anti-Arabic without really understanding Dubai's economy or development plans. I also don't think that you understand how much foreign investment is in Dubai.

Are you kidding? I post a story and ask what people think about it. From that you label me anti-Arabic?? Unbelievable.

[Silver]

http://www.heritage.org/research/features/index/country.cfm?id=unitedarabemirates

[Silver]

Last year Dubai wanted to run our ports. There was such a huge outcry against it that it was stopped. How is that different from them now wanting 1/5 of Nasdaq? What is the difference?

[otomik]

my 401k goes primarily to an growth fund that invests in asia.

WHATS GOING ON? WHAT ARE MY SINISTER INTENTIONS? WHATS NEXT? WHERE WAS BUSH?

[Tame]

^^^^Probably has white lines on his front lawn.

[Indian Summer]

For what it's worth, I've actually been to Dubai. It's a very business-oriented sort of place, and it has a huge immigrant population. (Though I'm not sure if the immigrants are granted citizenship very easily.) I think it's the only country in the Persian Gulf where women can drive a car and men can have a drink.

They also had a couple of nice restaurants. One was a Thai restaurants where they had Thai dancers a couple of nights a week. The hotel where I stayed was also very nice.

Edit: The article in the OP is from WND, a site well-known for its anti-muslim bias. Just saying.

[IamJen]

Are you kidding? I post a story and ask what people think about it. From that you label me anti-Arabic?? Unbelievable.
So why didn't you start a thread like "White folk acquire 1/2 (or whatever) of Stock Exchange"?

Please. Give us a challenge, at least.

[Dirty Martini]

Are you kidding? I post a story and ask what people think about it. From that you label me anti-Arabic?? Unbelievable.

Your title, starting "Arabs are acquiring ..." and then your following question:


Does this make you comfortable?

implies you have a problem with Arabs. I don't see you posting anything about political and financial relationships between the US & China, or the number of Chinese listings on nasdaq.

I also don't see anything in your posts about nasdaq acquiring OMX and obtaining greater access to European markets (in comparison to the NYSE, which did similarly last year), which ostensibly is seen as a positive.

[Silver]

The title Arabs are Acquiring. . . was not mine. It was the headline in several newspapers. So you are actually criticizing THEM for being biased. All I did was ask you what you thought about it.

[Silver]

I can see that everybody here has no problem with this. I wonder why Congress is concerned with it. Do you know why they have concerns?

[IamJen]

The title Arabs are Acquiring. . . was not mine. It was the headline in several newspapers. So you are actually criticizing THEM for being biased. All I did was ask you what you thought about it.

So why not link those articles? ;) I mean, it's not like WorldNetDaily is the paragon of journalistic integrity. :rolleyes: There are some highlights in the Wiki page on WND. http://en.wikipedia.org/wiki/WorldNetDaily

[Dirty Martini]

Last year Dubai wanted to run our ports. There was such a huge outcry against it that it was stopped. How is that different from them now wanting 1/5 of Nasdaq? What is the difference?

You mean other than that the ports are property of the US government and NASDAQ is not?

[Red]

I can see that everybody here has no problem with this. I wonder why Congress is concerned with it. Do you know why they have concerns?

Yeah.

They're wondering if they can play the xenophobe card to their advantage again. All the polls aren't in yet.

[Dirty Martini]

I love how sometimes Congress is considered honest and intriguing in their concerns, and yet other times they're to be distrusted. Good times.

[MrFalafel]

Owning a stock exchange is not controlling a stock exchange. It really doesn't matter who owns it. Its a business like a bank or a restaurant that has to follow rules set by independent regulators. A non-issue.