And We Should Not be Suprised

News is now emerging that there are some very obvious signs that the news of the announcement of Dubia's potential default was available to some traders PRIOR to the news release. And those traders had the opportunity to profit handsomely. And considering some of the fraudsters that have been washed out in this process, and the fact that more are likely, this should not be a surprise. The game is ... a game, and there are those that will take whatever advantage they can to WIN. Even if that means cheating/lying/stealing ..... As I have said before - Stop Stealing Other Peoples Money!

Massive Selling Before The Dubai Debacle Means Inside Information Was Leaked

Vincent Fernando|Dec. 2, 2009, 2:04 PM | 5,879 |9

Print

Tags: Markets, Oil, Dubai

The evidence of foul play ahead of Dubai's debt announcement last week appears overwhelming.

A whopping 75% of debt owners might have sold ahead of time.

Which means that whoever was left holding Nakheel bonds was truly out of the loop.

WSJ: According to Data Explorers, a company that tracks how much of a company's stock or bonds are out on loan, about 75% of institutions holding the sukuk sold their position between the end of August and the end of November.

"It's an extraordinary sell-off in a bond so close to maturity, when there was no indication of a problem refinancing. The data suggests they had some information that it was a good time to sell," said Data Explorers managing director Julian Pittam.

Read more here.

See here why Dubai was the most obvious bubble ever (in retrospect) >>