Article

2006-05-20 Arabia

Saudis slam govt, bank role in bourse crash

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Posted by ryuge 2006-05-20 02:04|| || Front Page|| [3 views since 2007-05-07] Top

#1 Sounds like an inevitable event on a stock market anywhere.

"But after I bought it, it was only supposed to go up!"

Posted by Anonymoose 2006-05-20 08:53|| 2006-05-20 08:53|| Front Page Top

#2 My guess is that the senior princes took their profits at the top.

Posted by lotp 2006-05-20 09:11|| 2006-05-20 09:11|| Front Page Top

#3 Participants asked why the state had not floated oil giant Aramco

Huh? Ha ha ha Hee hee.

The religious-policeman's been all over this hillarity.

Posted by 6 2006-05-20 09:42|| 2006-05-20 09:42|| Front Page Top

#4 Oppps, scroll down and read the whole series, it a nice short introduction to small market economics.

Posted by 6 2006-05-20 09:43|| 2006-05-20 09:43|| Front Page Top

#5 Events like this are the antidote to the idea that foreigners would pull their money out of the US just because they don't like American foreign policy. The reality is that there is more cash out there than profitable opportunities. By keeping all the money in-country, Saudi Arabia helped inflate a bubble that will probably drag down its economy for years. People invest in American securities because they see profitable opportunities, not because they like Americans. In fact, there is nothing sweeter than making money off a nation you perceive to be your enemy.

Posted by Zhang Fei 2006-05-20 15:35|| http://timurileng.blogspot.com]">[http://timurileng.blogspot.com] 2006-05-20 15:35|| Front Page Top

#6
Aren't things like investing and interest (receiving or paying) considered un-islamic?

Just askin'.

-M

Posted by Manolo 2006-05-20 19:10|| 2006-05-20 19:10|| Front Page Top

#7 Not investing, AFAIK. But lending at interest, yes. Lots of creative ways to get around the latter restriction, however.

Posted by lotp 2006-05-20 19:26|| 2006-05-20 19:26|| Front Page Top

#8 ZF - true, plus (except for ENRON, a few others, etc.) the US Stocks, investments are run honestly, honorably, and will not be nationalized. Expect some foreign South American investment sto run for the border this year.

Posted by Frank G">Frank G 2006-05-20 19:53|| 2006-05-20 19:53|| Front Page Top

#9 FG: ZF - true, plus (except for ENRON, a few others, etc.) the US Stocks, investments are run honestly, honorably, and will not be nationalized.

Things like Enron aren't illegal in most places, because their disclosure requirements aren't nearly as elaborate as American ones. No need to disclose, therefore no need to lie.

Posted by Zhang Fei 2006-05-20 20:59|| http://timurileng.blogspot.com]">[http://timurileng.blogspot.com] 2006-05-20 20:59|| Front Page Top

#10 but the level of transparency we require makes investors comfortable

Posted by Frank G">Frank G 2006-05-20 21:56|| 2006-05-20 21:56|| Front Page Top

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