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Dubai Buys 20 Percent of Nasdaq Stock Market

reverendmark.com — The Nasdaq Stock Market is selling a nearly 20 percent stake to Borse Dubai and is taking control of the Nordic exchange operator OMX as part of a sweeping settlement of their battle for control of OMX. In a global stock market shakeup, Borse Dubai and a group from Qatar also moved to become the largest stakeholders in the London Stock Exchange.

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  • macewan, on 10/10/2007, -1/+82Isn't Dubai where Halliburton is relocating?
    • chase001, on 10/10/2007, -1/+48Yes where Congress can't Subpoena any of their records.
      • jkbowman, on 10/10/2007, -0/+15Favorable tax treatment also comes to mind, if not now later. - I'm confident Halliburton and many other companies are contemplating where they'd like to be based when the baby boomer generation reaches retirement age. No, I don't think they're building all of those skyscrapers for "tourism."
    • 2reflective, on 10/10/2007, -2/+12Dubai is the neocons getaway plan. Do you really think they will hang around in the USA to face potential charges once they leave office?
  • chase001, on 10/10/2007, -4/+47They are also who Bush wanted to lease our ports to.
    • xeocube, on 10/10/2007, -12/+3Yea, and good job that it didn't happen. A few weeks ago they announced that one of the reasons Bush wanted to do it was because Dubai would have worked together with the CIA providing valuable intel of the region, that would otherwise have never been able to be obtained. Well, didn't happen.
    • gtluke, on 10/10/2007, -2/+14what? no a dubai company WON the bid, bush supported the honoring of their legal bid, it was very racist to deny them.

      united water is a french company(largest utility in the world next to GE), look at your water bill, there is a great chance they do your tap water or maybe electricity. if united water sold their business to a canadian company would that be okay? british? mexican? indian? chinese? pakistan? dubai?
      see how tricky that gets?
      bush derangement syndrome. please think about your replies logically and not blindly blame bush every time you don't like something. i don't care who you support or dislike but i'm getting sick of these idiotic blame bush remarks in every single commentary on digg.com


      • spynovel, on 10/10/2007, -2/+7Thank God all our governmental contracts go to bidders. ;-)
        • gtluke, on 10/10/2007, -1/+7i made that comment because i do government contract work for city water utility.
          the government can't handle projects, they are total idiots so they have to farm this work out.
          bidding is stupid because whoever SAYS they can do it the cheapest wins... IE cut corners, half ass.
          but when the government finds a company that they find very competent in doing their job they give them a "no bid contract" and people get up in arms about that.
          my company gets no bid contracts once in a while and seriously EVERYONE involved is WAY better off. better service and better product and we can work much closer with the parties involved in the planning stages and it makes things go sooooo much smoother instead of having to pour through thousands of pages of a specification trying to figure out what the designer is trying to get at. working with him from start to finish is just better. we make the same money with a lot less stress, the city saves a TON of money.
          but it pisses people off.
          i really don't see another way of doing it. its either bid contracts, or no bid contracts, or sell it all to a private owner. but could i buy the port? could a canadian? dubai? see?
          whatever, what are we to do. any way you do anything half of the people are going to be pissed off because you didn't do it their way.

  • 11Heather, on 10/10/2007, -8/+36Scary what oil money is doing to cause a shake-up in our silent ruling overlords.
  • blackberryoctop, on 10/10/2007, -9/+0Mirror: mirror.colectivo.us
  • littlebylittle, on 10/10/2007, -6/+50Dubai: the new money laundering capital of the world.
  • SheilaNoya, on 10/10/2007, -5/+41Dubai also just bought a stake in the Carlyle Group which makes huge war profits. Bush's daddy was on the Board of Directors of the Carlyle Group. Any surprise?
  • scribby, on 10/10/2007, -14/+8Is anyone else effin' scared about the global economy? The US might not be the superpower it is for long.
    • mookiemookie, on 10/10/2007, -3/+11You really have no idea what this story is about, do you?
    • eclipse007, on 10/10/2007, -4/+16superpower? you probably mean superborrower, right?
    • zzzmidnight, on 10/10/2007, -2/+3buy gold and silver
    • Kamill85, on 10/10/2007, -0/+2US wasn't a superpower for a long time, all they have is this bigass military machine they bought for endless loans, if you sum everything up, US is super-broke. If China calls in debts + invests some percentage of their income into army, they can easily double that.
    • tearor, on 10/10/2007, -1/+2All we(USA) was that lousy dollar, and soon it will be gone. Then we will be a second world country at best
  • iepurilah, on 10/10/2007, -18/+3If things keep going like this, the arabs will soon own some pretty important part of the world and I don't know if it's good
    • Crimsoneer, on 10/10/2007, -5/+15"the arabs"? What the hell does that even mean?
      • crash331, on 10/10/2007, -1/+11you know, those people from arabia.
        • centran, on 10/10/2007, -1/+1Is that what they do down in arabia thorn?
          How the hell should I know!
    • zzzmidnight, on 10/10/2007, -0/+3is 'the comming' a good thing??
    • SignorDildo, on 10/10/2007, -1/+2The question is: who owns these Arabs? A lot of US taxpayer's money has vanished into thin air over the past few years, and what goes up must come down...
  • totorototoro, on 10/10/2007, -3/+18This smells like a Carlyle Group deal.
  • TroubleInMind, on 10/10/2007, -2/+17I, for one, welcome our new wealthy overlords. Because when China calls in the 1.75 trillion in IOUs we wrote them during the Bush administration, we need somebody who can cover that check.
    • zzzmidnight, on 10/10/2007, -1/+1we can cover it our selves because the money we owe them is all USD and FRNs will soon be worthless.
  • lead2thehead, on 10/10/2007, -1/+13That should tell you just how freaking rich those people are.
    • supermanred, on 10/10/2007, -1/+2Rich, and getting richer every moment
      • SignorDildo, on 10/10/2007, -1/+2Only the rich get richer. Everyone else just gets "less poor".
  • Ibox, on 10/10/2007, -8/+1And you thought Bill Gates was rich.
    • Kamill85, on 10/10/2007, -1/+2private person != corporation/country/city
      Does it make any sense to you? Gates IS rich as an individual.
  • zzzmidnight, on 10/10/2007, -1/+2bi-me.com is the place if you want to learn about investment over there.
    but i wouldn't worry about that, just horde as much gold and silver as you can.
    • yodaj007, on 10/10/2007, -0/+2You're a WoW player, apparently. It's spelled "hoard" here.
  • bromanct, on 10/10/2007, -13/+11This article has too many words. Isn't nasdaq that duck from that insurance commercial? Oh well, I'm hungry. Hey, did you hear Britney has to get random drug tests? OMG!!!!!
  • jsdratm, on 10/10/2007, -1/+26Just so you know, this doesn't mean they bought 20% of every company on the nasdaq. They just bought a share of nasdaq itself.
    • Tenlow, on 10/10/2007, -2/+7I read the title as they bought 20% of all currently trading stocks. "Dubai buys 20% of nasdaq stock exchange" would have been less confusing.
  • CloakandSwagger, on 10/10/2007, -1/+3Working Link/Article: http://www.truthout.org/docs_2006/092107H.shtml
  • crapmatic, on 10/10/2007, -1/+14Blogspam ripping off AP content word for word. Get it from the source: http://www.forbes.com/feeds/ap/2007/09/20/ap413974 ... .
  • chumpsucker, on 10/10/2007, -11/+1The Terrorists Are Coming!!
  • ren1999, on 10/10/2007, -3/+11The Americans who just relocated to Dubai in order to avoid extradition back to the United States, Halliburton. They bought shares in NASDAQ with stolen American tax dollars. Are you going to let them escape?
    • supermanred, on 10/10/2007, -2/+3Impeach. Imprison / Hang.
    • gravity71, on 10/10/2007, -1/+1yes, they're most likely to let them escape, exactly like with the members of the Bin Laden family in the days immediately following 9/11. When NOBODY was able to fly!
  • Rashids, on 10/10/2007, -0/+12Why is the picture of the King of Saudia Arabia shown in that article

    I hope that by now, people now that Dubai is a city in the United Arab Emirates, and UAE is a complete different country,, its like putting Canada's prime minster photo when the article is about the US government!
  • supermanred, on 10/10/2007, -10/+5Tax Money --> Government --> Dick Cheney --> Haliburton --> Dubai --> Buy 20% of American stock market.

    They just bought 1/5th of American stocks (companies) with YOUR tax money and you get NOTHING in return.

    Isn't the Iraq war AWESOME?
    • jsdratm, on 10/10/2007, -0/+8You are a moron, they bought 1/5 of a single company, not every company
    • VitriolAndAngst, on 10/10/2007, -1/+4They also purchased the Carlysle Group -- must be a reward to the Bush family for services rendered. Take a guess what they are.
  • littlegidding, on 10/10/2007, -1/+2yeah. saw this on the news the other day. It's not just Dubai buying up a lot of American stock either. Weird.
  • SilverBlade2k, on 10/10/2007, -4/+3great, more oil price manipulation.
  • phlebitis, on 10/10/2007, -1/+10America designed the system, and therefore can't complain when better players rise up and take over.
  • VitriolAndAngst, on 10/10/2007, -6/+3Yes, Bush invaded Iraq so that the country that financed the 9/11 attacks could buy up our country.
    What a devilish strategy!
  • ekravchenko, on 10/10/2007, -3/+5As someone before me mentioned they just bought 20% of this stock http://finapps.forbes.com/finapps/jsp/finance/comp ... They haven't actually purchased 20% of the companies listed on the NASDAQ stock exchange. So they bought 22.6 million shares worth 35.60. Big deal... I think you should be more worried about the 56% of Americans who think that the US is headed towards a recession, than this tiny purchase.
    • patch6, on 10/10/2007, -6/+2Worry about your ignorant self when the bottom falls out from under the USD. Being oblivious isn't going to protect your wealth.
  • VitriolAndAngst, on 10/10/2007, -2/+6Did we conduct a war on traffic accidents? We spent more money on 3,000 people getting killed at the WTC than we don on people who die every day. What hs been the result? Now we are in debt, and our ports our our military is getting owned by transnational conglomerates -- some of them owned by countries who would be considered a security risk by any rational nation.
    George Bush is helping to defeat America and Democracy. Thank you Republicans and NeoCons for your wonderful patriotism.
  • 4Runner, on 10/10/2007, -0/+6Dubai World also owns 50% of Las Vegas City Center and 14 million shares of MGM Mirage.
  • Shaman760, on 10/10/2007, -3/+3And some greedy sonofabitch Wolfowitz-type sold it to them. Really nice to see all those who are in power and so "pro-american" selling our future from right under us. I guess the sheep in America want that to happen. Oh well that was nice while it lasted.
    Can we please sell our leaders to the highest bidder? Oh wait they are already bought & paid for. My bad kthxbye
  • cipher64, on 10/10/2007, -1/+9It's amazing how everyone is worried about a Muslim country buying a minor stake in a US based business, why does not anyone ever wonder how much stake another group has in almost every big business here including the media???
    • Ellipsys, on 10/10/2007, -0/+1Its a simple matter of hats, as are most Western religions. See, that "other group" wears smaller hats than the Muslims, who wear very large, unusual hats that frighten USAians, who's religion is generally hatless unless you reach the upper echelons. Therefore, we simply assume that the guys with the little skullcaps are "good" because they're more "like us" then the guys with the funky turbans.
  • Raian, on 10/10/2007, -2/+3And welcome to the future home of the "free world" -- I'm sure if you throw a stone in Dubai 5 times out of 10 you'll hit a member of the illuminati.
  • cranium, on 10/10/2007, -1/+4Who are you going to vote for in November? Even the Clinton Administration had ties to the Carlyle Group. I'm getting a headache.

  • etnu, on 10/10/2007, -1/+3Wealthy arabs investing in American businesses? OH NO!

    This isn't anything new. Wealthy middle eastern families know that their oil riches are going to disappear eventually, and have been investing heavily for half a century. BFD.
  • thecoolestguy, on 10/10/2007, -5/+1If the US embraced a true free market system, like the one in Dubai (no income tax), the economy would absolutely boom. The US is a huge country, with huge agricultural production potential, huge renewable resources potential, huge fossil fuel reserves, and huge mineral reserves. Its economic potential is enormous.

    Ron Paul 2008
    • gothsquirrel, on 10/10/2007, -2/+3And who the hell do you think thats going to benefit jackass. Big Corporations not the working man. Our country doesn't have a large amount of a natural resource that other countries are paying out the ass for like we are to nations with oil.
      • scamper22, on 10/10/2007, -0/+1I didn't know corporations paid income tax.
        I thought workers paid income tax. So eliminating income tax would benefit workers.

        Not to mention that income tax is a bad way to tax. It removes yet another avenue of civil disobedience and allows uncontrolled government spending. Do you think governments would be so willing to go to war without a guaranteed way of paying it off? For example, if a sales tax (food, basics exempt), you could easily protest by boycotting purchases. You can't do that with income tax.

        Several states including washington (doesn't have a lot of oil :) ) don't have any income taxes. yet, they manage to get by one sales/property taxes... Income tax is just not needed and only punishes the worker.

      • thecoolestguy, on 10/10/2007, -0/+1There's nothing wrong with big corporations as long as they earn their profits by providing a useful good or service in the free market rather than using the coercive powers of government to earn their profits.
        With big government, companies like Halliburton and the big pharmaceuticals and health insurance companies can make a killing via government taxation of citizens. Small government means consumers make the choice about how their money is spent, rather than bureaucrats that tax their money and decide for them.

        Average working people in Dubai are getting richer every year because big corporations are moving there and employing them by the hundreds of thousands. People in big cities live longer than people in rural cities. Progress and economic growth are GOOD for the people.
  • Talcire, on 10/10/2007, -1/+3Dubai will likely run out of oil by 2014. THAT is why they are investing now. They are preparing for a future without oil. Tourism will be the main source of income.
    • Kamill85, on 10/10/2007, -0/+1I logged in just to reply to your crappy comment, Dubai's main source of income IS tourism since years, oil is only below 20%. Get your facts and stfu.
      • Raian, on 10/10/2007, -0/+1And where did they get the money to make it a tourist destination in the first place genius?
  • scamper22, on 10/10/2007, -1/+1This is the new mutation of the markets. Government investment firms. The Middle east is famous for them...dumping their oil money into investments. Not to mention several countries like Norway and Canada have huge state investment firms; buying out resources in other countries...

    It's a strange twist on capitalism. I'm just waiting to see what's going to happen.
  • Ghoztt, on 10/10/2007, -1/+3America: Sold to China and Dubai.
  • anarchytv, on 10/10/2007, -1/+3You know, every single framer & signer of the original constitution, were totally down with sedition, and putting their rifle behind their signature. How come there's not a single person in America today that's not worth the table salt for guts compared to even the wussiest original American revolutionaries.
  • erexsha, on 10/10/2007, -0/+3Make a trip to Dubai then comment against it. I am nor scared of seeing them in more power. They use their power and money in good way.
  • WaterJake, on 10/10/2007, -2/+3You are all idiots. The free market at work is a beautiful thing.
    • scamper22, on 10/10/2007, -0/+1yes, a government investment firm. That is truly the free market.
      It is called the 'free' market for a reason... Please don't confuse it with the 'market'.

  • bincoder, on 10/10/2007, -0/+0don't moan and bitch over Dubai, they are not only sane, they also like amerika.
    Great wealth built from nothing more than desert sand, no oil, no terrorism.
    An example of capitalism as it was mean't to be. :P
  • lOvOl, on 10/10/2007, -0/+3Dubai may be a center for international money laundering and black market arms deals, but then again so is Switzerland as well as Pakistan which also happens to be the global banking capital of drug money laundering.

    Dubai is probably one of the friendliest nations to the United States in the middle east, outside of perhaps Israel. Even though Dubai is Muslim, it is also one of the most decadent places on earth and far more secular than religiously minded. The government doesn't even really care what your religion is or if you have a religion, just so long as you are rich.

    The larger issue is not Dubai buying up our assets, but our trade policy which after years of abuse by kleptocrats at home, and foreign pillaging from abroad, we are now in such a precarious financial position that we either have to keep assets to keep our government solvent and our currency sound, or else we risk massive depreciation of the United States Dollar because what good is the United States Dollar internationally if you cannot buy anything of value from the United States itself.

    And given the choices between Russian or Chinese investment and Dubai, I would be way happier to have Dubai invest in the United States than two countries, one of which or both may end up going to nuclear war with the United States in the next couple of decades.
  • madmack, on 10/10/2007, -0/+1ah, good to see my country mentioned in digg for once :) i'm from Qatar btw, (we compete with dubai financially). yea we're rich.. but i'm glad us and dubai are spending the money we have in the right direction.

    cheers
  • sephiroth4, on 10/10/2007, -0/+1All this stuff wouldn't be scary if Bu$h and Co weren't in office and America had something to offer besides a smack down with ever increasing, requirement changing military.
  • TheMarvel, on 10/10/2007, -0/+2Dubai's gangster. If you haven't been there, you should go for a holiday.
  • littlebylittle, on 10/10/2007, -1/+1@peacenotisrael

    Explain Zionism to me in a Nutshell? Seriously. And not a Wiki link. I've read that. I've also heard it explained from many subjective viewpoints.

    If you're going to take that stance I'm very curious about your answer.
  •  

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