Who Is Stupid Enough To Think This Is A Good Idea?

2:38 pm EST September 20th, 2007 | News | 2 Comments

Selling one of our major financial markets to a middle-eastern country? Does this strike anyone as remotely sane or something that should pass without protest?

The government-controlled stock exchange in Dubai, the fast-growing Middle East business center, is expected to announce today in Stockholm that it plans to take significant ownership in the Nasdaq stock exchange in New York and the London Stock Exchange, people who have been briefed on the transaction said last night.

If the deal is completed, Dubai would become the first Middle East government to own a large stake in an American stock exchange. It also is expected to become the largest single investor in Nasdaq.

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2 Responses to “Who Is Stupid Enough To Think This Is A Good Idea?”

  1. mktwatcher says:
    September 20, 2007 at 4:08 pm

    http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20070920/REG/70920008/-1/INDaily01

    NASDAQ’s and Dubai’s boards have cleared the agreement, but it’s still subject to shareholder approval and clearance from regulators in both the U.S. and Europe.

    “I believe that a careful review of the Dubai- NASDAQ transaction is required to ensure that there are no negative national security implications associated with moving forward with this deal,” said Christopher Dodd, Democratic senator in Connecticut and head of the Senate Banking Committee, in a statement.

    “It is my understanding that the Dubai- NASDAQ deal will be voluntarily submitted to the Committee of Foreign Investment in the United States for review.”

  2. dr4lom says:
    September 20, 2007 at 5:14 pm

    This is worse than selling our ports. What the fuck is wrong with our government? It’s not obvious enough that the Middle East dictates our economic policies? Now we have to have our corporations run by them directly?