Gulf gain from global pain
At a time when record high oil prices are sending the global economy into a tailspin, the black gold gushing from oil wells is ensuring that oil-rich gulf nations are laughing all the way to the bank. Today sovereign wealth funds control an estimated $3 trillion in assets, a large chunk of which is held by Gulf based funds. And now that money is flowing freely into western markets to pick up assets whose values have been beaten down by the current crisis.
