Michael K. Machauer
Dresdner Bank AG
+49.69.263.7079
International Herald Tribune: "White knights from afar"
Someone who's been asleep the past few months is in for a shock when catching up with the economic news. Not just because the value of his shares has taken a pummeling and the euro is close to USD 1.60, but also because there seems to have been a shift in economic power. White knights from the Middle East and Asia have been riding to the rescue of western financial icons such as UBS, Citigroup, Morgan Stanley and Merrill Lynch. So, having rubbed his eyes in disbelief, our sleepwalker will ask whether this is something he needs to fear. The answer is no, at least not directly.