FROM Christopher Davidson
The Collapse of the 'Dubai Miracle' Two weeks ago, the world of finance was told that Dubai had weathered the global recession. But last week, markets around the world were shaken when Dubai World, the country's major developer, asked for a six month delay in payments on billions in debt. Now, global financiers are claiming they've been misled. Should investors have seen it coming? What's the possible impact on the global economy? Is the next step a kind of test for Islamic finance under Shariah law?
Trump fires FBI Director James Comey Vice President Mike Pence took the Administration's lead today in explaining why the President fired the Head of the FBI, saying, "The president made the right decision at the right time." Trump's action is being compared to the so-called "Saturday Night Massacre" that led to President Richard Nixon's resignation in 1973.
Concern deepens amid Trump's controversies President Trump delivered today's commencement speech to the Coast Guard Academy in Connecticut. As he praised the accomplishments of the graduates, he listed some of his own… and made reference to reports that he leaked intelligence to the Russians and tried to shut down an FBI Investigation into his associates.