Middle East oil money starts chasing subprime mortgage back hole - Kuwaiti fund gets sucked in
Kara Zeilig
Jan. 1, 2008

The subprime mortgage crisis is like a black hole. It is sucking in not only central bank resources but also country specific resources like Kuwait. Many investors in the world will be sucked into this virtual mortgage back hole over the next several years.

The $220 billion sovereign wealth fund, unique in the Middle East because its inflows are governed by law and subject to parliamentary oversight. The Kuwaiti fund is the last victim of getting sucked into subprime mortgage black hole.

The fund managers look at the subprime mortgage trouble at the peak and wants to cash in as they perceive little trouble. That is exactly what happens to investors in a serious bear market in free fall. Like a black hole, subprime mortgage fiasco is suckin in all resources like a massive vaccuum cleaner. All those getting sucked in belive this is their one in a lifetime opportunity.

Middle East oil money starts chasing subprime mortgage back hole - Kuwaiti fund gets sucked in
Kara Zeilig
The subprime mortgage crisis is like a black hole. It is sucking in not only central bank resources but also country specific resources like Kuwait.
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