And its the MidEast to the rescue

Got Financial crunch?Does the term sub-prime mortgage scare you? And last but certainly the most important question of them all...Are you a top tier investment bank that doesn't seem like it going to remain up there?

Say no more..oil rich middle east is out to save the day..the consortium of Kuwait Investment Authority(KIA), AbuDhabi Investment Authority (ADIA) and Prince Walid Bin Talal (ever notice we hear more about him than the company itself-Kingdom Holdings for the late bloomers-of which he owns like 96%-ok so that explains it!) have decided to bail out the troubled US banks Citigroup and Merril Lynch to the tune of USD$ 15billion.

The Prince has already a significant stake in Citi and he has now pushed it to the maximum possible by US regulatory standards.

So where is this all heading?Layoffs? certainly..stock dip? 4 suree..but most likely burning in the minds of 'local' investors is how much of the piece remains local anymore.Will it be long before Washington steps in says enough is enough.The landmark american act of lazy borrowing has to end to cease this sad state of affairs.