When the Goings Get Tough, the Gulf Sovereign Wealth Funds Get Going
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Fourteen years ago, they were dubbed the "white knights," riding to the rescue of global financial markets amid the greatest liquidity crisis in decades. They also walked away with billions in profits.
When predatory subprime lending, excessive risk-taking by global financial institutions, and the bursting of the U.S. housing bubble conspired to create the worst financial crisis since the Great Depression, the richest monarchies of the Persian Gulf stepped up.
Source Fool.com
