Danger in Dubai

Seems like the US isn't the only place where "too-big-to-fail" companies run amok. In a real Middle East shocker, looks like a couple of monster companies in Dubai can't pay their bills. Shoot, are they running out of petro-dollars? We're talking billions of US $s here. Euromarkets, open today, are going down hard, although London is hard to track since they're having a system outage as of this writing.

Looks like part of Thanksgiving Day will involve putting stops on a bunch of positions in our portfolios today in anticipation of a bad opening tomorrow. Market futures are down 84 points as of this posting, although these can change wildly before trading re-opens tomorrow. (You can follow updated futures here if you're into that sort of thing.)

Just thought you'd like to know since this kind of stuff tends not to get a lot of coverage until after the fact, since it's not generally interesting to the media unless they can blame it on Bush.