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What did you think GM did before they went bust?
For heavensake GM manf cars and also has interests in high end technology, one of which is alternative fuels. GM has assets worldwide that have credible value.
Nakheel is a CLEVER BY HALF boiler room operation. They have created, don't know how many 100s-1000s of sf-ft of real estate in the sea that nobody is interested in buying, except for corrupt politician from the 3rd world, single-mum sallys from liverpool/munchester and the worldwide mafia.
Has anybody considered, if DW is declared insolvent, the cost of ensuring that the PALM, WORLD and whatever, does not turn into a geo-biological (my term) disaster. The Island have some huge maintenance costs.
And don't equate USA and UK with DXB. USA and UK have their currency - reserve currency of the world- to fall back upon, they can print to deflect some or all of their debt, ofcourse at a cost, but then still print money. DXB has diddly squirt.
Pray AUH does not exit the union. I am sure that is one of their main bargaining chips against the northern paupers.