Whilst the entire world is being engulfed into the credit crisis, let’s have a look at how have people expressed their opinion about the crisis online. In the past few weeks the US government has been debating on the bail out plan for the financial organizations. I am sure most of us read/hear about this bail out plan at various news channels. Check out these sites which are yelling about the bail out plan "No Wall Street Bail Out and "Stop the Housing Bail Out". The sites are being hit by thousands of online users, where by people have expressed their thoughts and opinion on the current credit crisis.I had to Google to find out this link about a "radio show" being run on the current credit crisis. It gives you an understanding of why were so many people lent money without checking their credit history.
The credit crisis exposure of UAE Banks has been limited so far. The government has assured to take the guarantee of the deposits in the local banks. Moreover lack of transparency may also give us a feeling that we are in safe hands. UAE Central Bank had asked the bank’s to declare their exposure to the Lehman bankruptcy, but so far none of them have made any public announcement. Check out this "article" which gives some insight into the issue faced by the UAE banks.
