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.Nothing against Dubai, but a weakness was just made obvious of our economic openness. Now as everybody knows, Dubai, or any other rational actor is not about to ruin an investment, but what's to stop irrational actors from "investing"?
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.
9/20/2007
Are we too free?
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