Bloomberg is hinting that the Dubai Problem may be worse than what we've already heard. The original $60 Billion debt may end up being much more. Bloomberg mentions between $80 an $90 Billion, when the off balance sheet debt is added in.
Bloomberg news
(Remember when the LTCM debt was originally $2Billion? It ended up rocking the market with about $100 Billion in settlements, and came very close to destroying the world financial system back in 1998?)
Watch the money carry trade for indications.

Hopefully Abhu Dabai will step in and obviate this crisis, but it could be out of control.

Stay tuned.