First Iceland blows up. Now Dubai. So, who's next?
It won't be someone big, at least not yet. It's not likely to be an oil producer, although Mexico's looking a bit shaky. Probably won't be a Euro nation - the rich ones tend to bail out the poor ones behind the scene, at least for now. Argentina perhaps? (would anyone notice?) One of the former USSR states?
I guess you'd look for someone who borrowed heavily and spent foolishly, or else lent to someone in that category. You know it's going to happen. It's just a matter of when...
Hey, maybe we should have a pool?
ebear