abu dhabi and some of the arab nations are perfect examples of their fortunes and i guess to the boom and bust and we'll see about its credit bubbles etc. as these nations get in trouble and especially the more socialist nations work force. to build up their banks over leverage. toxic assets. i would suggest was from actual clients to take a look at buying assets off. what is normally what has been done in the past with the us crisis is being written to reconcile the banks not to be going to banking industry right now because i don't feel bad for the streets being cleaned up a lot of the players read aloud the banks collapse or start running the banks. the same employees in the same message so you can solve the problem but the banks to make it skittish banks have significant have a very distinct senator if you take a look at wall street not to for right now. they hire and peaks throwing bottles in the fire and tossed around brooms with relatively little planning so if you can take advantage of that mentality when he can in trouble and he starts off that sets a new way of cutting bonus

abu dhabi and some of the arab nations are perfect examples where their fortunes are not necessarily tied to the poor person because the markets created bubbles etc and as these nations get in trouble and especially not socialist nations what i'm forced by mandate go up their banks over leveraged. toxic assets. i would suggest was for my actual clients to take a look at buying assets off. what is normally what has been done in the past with the us crisis is that since records are there it's not a big on the banking industry right now because of the spheres being cleaned up a lot of the players said allowed the banks to collapse to running prevents the same applies in the same message so you don't solve the problem but instead the kids. significant have a very distinct if you take a look at wall street. for. the higher peaks throwing bottles in the fire and. planning so if you take advantage of that mentality but he can trouble and he starts facets. of couldn't bonuses in the. compensation yeah you can take advantage themselves and there you go i go to a good opportunity there is meta

abu dhabi and some of the arab nations are perfect examples where their fortunes are not necessarily tied to the boom and bust because their pockets credit bubbles and set up. as these nations get in trouble and especially in our socialist nations work force and they go about their banks over there which. toxic assets. i would suggest was from my actual clients to take a look at buying assets off. what is normally what has been done in the past but the u.s. crisis is they invested directly into the banks i'm not a big going to banking industry right now because of the bank in the streets being cleaned up i love the players said allowed the banks to collapse are still running the banks with the same employees in the same asset so you have some of the problem but the banks tend to get skater sprains significant have a very distinct human person or two if you take a look at wall street not too far from where i am now. they hire and peaks during bubbles and they fire and drove through and blooms with relatively little planning so if you could take advantage that mentality but he couldn't

chip reid, cbs news, abu dhabi. >> pelley: and you'll remember this week, president obama said that he's sticking with his schedule, which calls for most u.s. forces to leave afghanistan at the end of 2014. in domestic politices, pennsylvania has just enacted one of the toughest voter i.d. laws in the country. it will require voters to provide a photo i.d. at the polls this november. republicans say it's about preventing voter fraud. democrats say the real target is the poor. elaine quijano has more. >> reporter: the effort to pass pennsylvania's voter i.d. law was led by republican state representative derryl metcalf. why do you think this legislation was necessary? >> we've had a history in pennsylvania of election code violations, voter fraud, fictitious registrations. so it's a needed protection. >> reporter: pennsylvania joins eight other states that have passed laws that require voters to have photo i-d. in pennsylvania, the issue has been a partisan battle. all the democrats in the state's assembly voted against it. they argue the law targets poor and elderly voters who may not ha

there has been no confirms from abu dhabi about the deal. >>> and from the potential deal to one that's just been signed, an investment fund is investing $2 billion in brazil's ebx group it was announced by ebx's owner who happens tos will be brazil's richest man. >>> we follow a first-time buyer in dubai as he shows us the growing allure of investing in modern art. wow! that feels really good. it's hugging my body. in less than a minute i can get more support. if you change your mind once you get home you can adjust it. so whatever you feel like, the sleep number bed's going to provide it for you. at our semi-annual sleep sale, save $400 to $700 on our most popular bed sets. sale ends march 31st. only at the sleep number store, where queen mattresses start at just $699. will be giving away passafree copies of the alcoholism & addiction cure. to get yours, go to ssagesmalibubook.com. wrapped up for another year, with the economic slowdown the search is on for alternative investments and some are turning to art. we followed a new collector as he looks to make his first big purchases. ♪ >

he's currently completing work on the guggenheim of abu dhabi and the louis vuitton museum in paris. mr. gehry's work reflects his concern that people live comfortably within the spaces he creates. the buildings address the concept and culture of the sites the budgets of their clients. he holds degrees from the university of southern california and the harvard college school of design. collaborating with mr. gehry is theater artist robert wilson. mr. wilson has shaped the look of theater and opera through his signature use of light and classical rigor of the scenic and furniture design, he articulates the force and originality of his vision. he attended the university of texas and moved to new york and attended pratt institute in brooklyn. he became a leader of manhattan downtown art scene and turned his attention to large-scale opera. with philip glass he created the monumental einstein on the beach in 1976 which won worldwide acclaim. he worked increasingly with major european theaters and opera houses and collaborated with internationally renowned writers and performers, and he's

wealth funds and the types of investments they can do, they're not as old as the ones in kuwait or in abu dhabi or as large. they're making up in a short time because of the tremendous wealth they're accrued from the l & g they're exporting. they're looking for investments overseas. a lot of it looking to europe, to the east, some in the united kinds of things where they can pick up the kinds of industries or properties that are a little distressed and figuring out how they can turn them around and buck them up. you see a lot of their buying of greek debt and companies luxemberg and they had a projec they've made a big -- it's a $700 million project so they've taken a big step into the u.s. market with this project so we'll see how it goes. i think it has whetted their. tide for more projects. it's just finding the right fit. >> others? >> i would just add, and echo what matt said before. go to the website and connect. i have a luxury of having a very robust foreign commercial service in rihadh and around there and as companies come in, i'm amazed that american d i say, just go on the ometimes

and the types of investments that they can do, and they are not as old as the ones in kuwait and abu dhabi and they're very quickly making up in a short time because of the tremendous wealth that they have accrued from the lng that they are exporting. >> they are looking for investment overseas. a lot of it looking to europe to the east. some in the united states and again, looking for the kinds of things they can pick up the kinds of industries or properties that are a little distressed and figuring out how they can turn them around and buck them up. you see a lot of their buying of greek debt and companies in luxembourg and these kinds of things and i'm very happy to say that they have a big investment in the city center project here in washington, d.c., which is a project cap it will and they've made a $700 million project so they've taken a big step into the u.s. market with this project, so we'll see how this goes, and i think whether it has whetted their appetite for more projects and it's just finding the right fit. >> and it's what matt was saying before, which is go on a website a

positioned itself as a transit hub, as with the two major airlines with dubai's ports and airports, abu dhabi coming on line and the they are developing the end queen continent and things are developing. but i'd like to focus on the subject of this panel which is alternative energy. while the traditional areas of by, aviation, defense, infrastructure, are moving ahead in uae, there was a pause but they're moving ahead and they are continuing in those areas. the world future energy summitt earlier this year provides an opportunity for u.s. companies to enter into a country where there is planning for the future. and what i see is the uae is a place where we can do real competition with the indians, the chinese and the turks in areas such as alternative energy. health care and education. the u.s. brand is extremely popular still. what we're facing is sometimes a 30% of the cost of our products and services when you look at india, china, turkey and other competitors. what we need to do and what i see in the u.s. companies who are willing to go to the united arab emirates, i see pursuing the pote

positioned itself as a transit hub with the two major airlines, with dubai's ports and airports and abu dhabi coming online, the new sub-saharan african market is developing the market and the stands are developing, but i would leak to focus on the subject of this panel while the traditional areas of business, aviation, defense e infrastructure are moving ahead in uae, was there a pause, but now they are moving ahead and they are continuing in those years. the world future energy summit earlier this year provides an opportunity for u.s. companies to enter into a country where there is planning for the future, and what i see is the uae is a place where we can do real competition with the indians, the chinese and the turks in areas such as alternative energy and i would also point out health care. ils also point out education, the u.s. brand is still very popular. >> what we're look of the cost when you look at our sers, when you like at china, india, turkey and other competitors and what i see in the united states countries who are willing to go to the united arab emirates are pursuing the pot

they are not as old as the ones in kuwait or in abu dhabi, nor as large.ut they are very quickly making up in a short time because of the tremendous wealth that they have accrued from the lng that they are exporting. they are looking for investments overseas. a lot of it looking to europe, to the east, some in the united states. but, again, looking for the kinds of things where they can pick up the kinds of industries or properties that are a little distressed and figuring out how they can turn them around and buck them up. you see a lot of their buying of greek debt and companies in luxury 'em bigger and these -- luxembourg and these kinds of things, but i'm or very happy to say they also have a very big investment in the city center project near washington, d.c. which was a project in search of capital. it's a $700 million project, so they've taken a big step into the u.s. market with this project. so we'll see how this goes. but i think it has whetted their appetite for more prompts. it's just -- projects. it's just finding the right fit. >> others? >>

. >> the company signed the deal to develop three energy feels in abu dhabi.own with the uae foreign trade minister to discuss this bilateral relationship and overall tilt to the east of the uae for business and for trade. >> there has been a good commitment, mutual commitment from both governments from the leaders in south korea and the united arab emirates in terms of looking and expanding the relationship that we have with them. the same time there are new fields for us to actually look around, for example, our partnership with korea, south korea is in the field of nuclear development, but we've seen investments from the korean themselves committing and combined projects here within the united arab emirates and oil. at the same time we have seen new fields of business or industries such as renewable energy. >> i find it interesting what was a manufacturing investment partnership on nuclear energy or w water purification has moved in energy in advicement from south korea. >> south korea is a good example of asian countries and the way they look today. a para

. >> samer at the marina in abu dhabi. that's it for cnn "marketplace middle east."ll see you next weekend.

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sunday starting at 1:00 in the afternoon in hong kong, 2:00 in tokyo, and 9:00 in the morning in abu dhabi here on cnn. >>> coming up on "world business today," the skies over sydney have cleared a little today, but for many in new south whales the flood threat is not over. we'll tell you what's in store for the rain drenched state just ahead on cnn. ® essentials™ no calorie sweetener with b vitamins, the first and only one to help support a healthy metabolism. three smart ways to sweeten. same great taste. splenda® essentials™. sksksk me. [ male announcer ] even if you think you can live with your old mattress... ask me how i've never slept better. [ male announcer ] ...why not talk to one of the 6 million people who've switched to the most highly recommended bed in america? it's not a sealy, a simmons, or a serta. ask me about my tempur-pedic. ask me how i can finally sleep all night. ask me how great my back feels every morning. [ male announcer ] did you know there's a tempur-pedic for everybody? tempur-pedic beds now come in soft, firm, and everything in between. these are real tempur

you know, the sovereign wealth fund of abu dhabi fell forward $440 million.investors in the persian gulf who never dream a kid from queens is running their money or he did know that he was earning their money and thought of it only as a senior executive of nasdaq or investing with madoff. so far out it it's affinity root, but it began there. >> could you discuss the folks who withdrew phony profits and the rationalization that they really should keep that money, even though it was a ponzi even though it was a ponzi scheme by definition and came from other people's pockets? >> you know, the tragic thing about a ponzi scheme and that such a good question because it hits right at the kind of heartbreak that makes ponzi schemes the most diabolical financial fraud attempting to. it doesn't just hit the deck guns to get the balance. it pits one set of victims against another set of it ends. and there can be no winners. but what the law says another london second circuit in new york has set back the way that you weigh the equity in these cases is on a cash income or

he told the national, a newspaper from abu dhabi that israelis think we want to bomb them and want to that they're mothers and fathers that want the best for their children. that brings me tonight's number, 7,256. that's how many likes the page iran loves israel has gotten. that's right. a group of iranians started a page to send the love back to iranian israel. despite heavy government censorship in iran, they posted anti-war messages on this page. we went on today and saw messages like why must people suffer because of their government? and, yes, of course, some people made fun of the campaign and created parodies. but for the most part, people have embraced the campaign's original anti-war message. and that's good because governments can get in the way of and act against the wishes of those they represent. and social media, because or perhaps because of the anonymity often lends itself to relentless negativity in bringing people down but not this time. for a great, great opportunity, social media is being used to build people up and inspire our leaders to work towards peace. and th

we flew three hours to abu dhabi. as we landed, all the blackberries were exploding with a request from editors and producers to please get pentagon reaction because karzai had just announced after panetta left that the u.s., had he demanded that the u.s. withdraw from all villages in afghanistan by mid next year. >> and, of course, he waited until panetta had left. but you have only villages. how do you withdraw from villages and still complete the mission? >> that's a very good question. at first, the pentagon said, well, actually we're not that far part. we're on the same page. if you press them and asked how can you continue counter insurgency which is working among the local population, trying to, you know, gain trust, how do you train local afghan security forces and police if you're not in the vils and the answer was we can't do that. there's a handful of huge military, u.s. military bases in afghanistan but by and large, the armed forces are on very small forward operating bases and smaller, 200 here, 20 here.

. >> is the prime minister aware that the entry clearance in abu dhabi has rejected an application by someone to come from pakistan to attend her granddaughters wedding in manchester? with the right honorable gentleman specify what kind of employment a 72 year-old woman who doesot speak nglish and has never left pakistan is liable to be obtained in my constituency where unemployment is 1026%? will be overruled this decision and allow her, a once-in-a-lifetime opportunity, to attend her granddaughters wedding? and if -- [shouting] >> the right honorable gentleman, i'm sure he is bring it to an end. >> i am. i am bringing it to an end. [laughter] and if the home secretary -- the wedding is april the second -- [laughter] >> the prime minister baak to answer the right honorable gentleman struggled i wasn't aware of the individual cases. there are hundreds of thousands of people who travel between pakistan and britain every year. we do have to have tough controls to prevent the abuse of our immigration system, but i would suggest he takes up te case individually with the immigration minist

the sovereign wealth fund of abu dhabi lost $440 million.so investors in the persian gulf who never dream that this jewish kid from queens was right running their money, or did no, and thought of them only as a senior executive of nasdaq, were investing with madoff. so it far outstripped its affinity roots but certainly it started. >> could you discuss the folks who withdrew phony profits and their rationalization that they really should keep that money? even though it was a ponzi scheme by definition and came from other people pockets? >> the tragic thing about a ponzi scheme, and that's such a good question, because it gets right at the heart of -- the kind of heartbreak that makes ponzi scheme the most diabolical financial fraud. it doesn't just hit the victims against the bill. it pits one set of victims against another set of victims. and there can be no winner. but what the law says, not a lot has said that the way you waive equity in these cases is on a cash and cash out basis. that the people who have already withdrawn the cash they

. >> is the prime minister aware that the entry clearance office in abu dhabi has rejected an application to come from pakistan to attend her granddaughter's wedding in manchester? would the right hon. gentleman clarify what kind of employment she is unlikely to be obtaining in these constituencies where unemployment is 10%? will the overrule his decision and allow her a once-in-a- lifetime opportunity to attend her granddaughter's wedding? >> the right hon. gentleman have solicited the to bring it to an end. >> the wedding is on april 2 zer. praxair was not aware of the individual case. there are hundreds of versions of not -- >> i was not aware of the individual case. there are hundreds of versions of people who travel every year. i would suggest you take the case individually. >> mr. peter boehnene. >> under tony blair's regime we did sleep safely because we knew lord press got would take over if tony blair was incapacitated. what would happen if the prime minister was incapacitated? >> i have been waiting for some time, because i know my right hon. friend has this question to every ca

because the abu dhabi stepped in, paid off the problem, paper did over, covered it over and it is gone. in january 2010, the soros fund and a couple of other hedge funds called a meeting in new york and said where are going to make money next? i know this because it was published in "the wall street journal" in february 2010 where they said, we are going to go to better rates and short sell. where? greece. they are interest rates in the greek interest rates then were not all that different from german interest rates or american interest rates. what the government had to pay to borrow money, well, what happened from that time until now, greek debt, to your money, they pay over 100% interest. now, do you think any nation could survive having to pay 100% interest on borrowed money? any nation that overdue money. no. so what we're seeing increase is not a natural death. it wouldn't happen as quickly. therefore this secret weapon of short selling, you don't have to take my word for it. you can take the word of the german spy agencies and the german government, which in june 2010 called for

because the uae has positioned as of as a transit hub and with the major airlines with dubai and abu dhabi coming along and the new sub-saharan african market is developing the indian subcontinent and since the stands are developing i would also like to focus on the subject of the panel which is alternative energy while the traditional areas of business, aviation, defense, infrastructure are moving ahead in uae. there was a pause but now they are moving ahead and they are continuing in those areas. the future summit earlier this year provides an opportunity for u.s. companies to enter into a country where there is planning for the future. and what i see is the uae is the place we can do competition with the indians, the chinese and the turks in areas such as alternative energy and i would point out healthcare and education. the u.s. brand is extremely popular still. what we are facing is sometimes a 40% of the cost of our products and services when you look at india, china, turkey and other competitors. what we need to do and what i see in the u.s. companies that are willing to go to the u

it's a monarchy, but a monarchy that started out launching the arabs from abu dhabi and dubai and theseand going to be in led lights and electric power and you want to be part of that future. >> the fuels from heaven. >> you brought it up and i wonder how the obama administration has done in terms of turning this country during the shift towards clean energy. there were a lot of promises made in the campaign. have we moved forward? >> there were a lot of promises made in the last year in the state of the union address. president obama talked about the energy and it used to say i'm for newt. if they can make it if they can make it economical. they used to say when i was a kid. it's the expensive way to boil a pot of water. it's never conceived. then you have to dispose of the base. why would you? you can make much, much cheaper energy from replacing these lights with led lights. and from electric cars. i have an electric car and call it six cents a mile over the life of the car. call it 60 cents a mile. the market will drive us there. the question is, who will be in the driver's seat. wi