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Saudi Family Feud Rocks World Banks

Saudi economy suffers as in-laws squabble over business

By Rob Quinn, Newser Staff

Posted Oct 22, 2009 8:03 AM CDT

(Newser) – A bitter dispute between two of Saudi Arabia's richest families is damaging the world banking industry, dragging down the Saudi economy, and causing deep discomfort over Ramadan party invites. The Gosaibi clan accuse their son-in-law Ma'an al Sanea of embezzling $10 billion from the family... Read full story »

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Saudi Family Feud Rocks World Banks

Saudi economy suffers as in-laws squabble over business

Saudi Arabia • embezzlement • banking • financial crisis

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More Newser Stories

Feds Sue Deutsche Bank Over Reckless Mortgage Lies

$1B suit may be first of many

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GOP argument against reform is upside-down, writes Paul Krugman

Dems May Cave on Consumer Agency

Proving they serve banks, not families, says Elizabeth Warren

Russian Banks Foreclose on Pigs, Lingerie

As defaults soar, banks stuck with weird collateral

US, Europe Clash on Banking Reforms

G-20 agreement on capital requirements likely to remain elusive

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