Dubai doesn't want to pay back billions in debt. At least not for a while. Uh oh. Thing is, do they care? Who actually cares about banks? Anyone? Does anyone think, "Oh that nice bank. They need that money. I should pay them since they are so hospitable and so great." No. No one cares about banks. Especially central banks. So, possibly other countries will now follow suit and tell US creditors, "You know what? I don't really want to give you that money, so ummmmm stop calling me, ok?"
Dow is down over 200 before market open.
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