Define consolidating power

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Large companies that had been leveraged to the hilt in risky real estate ventures were allowed to go bankrupt, their assets bought up by Abu Dhabi, the capital, and the wealthiest of the seven emirates.

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Other times, the corporate investigator said, companies connected to Saudi royals hand off projects to subsidiaries that fail to complete the work or go under, leaving the government holding the bag.He has picked highly symbolic, even flamboyant figures,” said Shihabi.“With a few exceptions, the individuals involved are viewed as having been recipients of ill-gotten wealth.One thing that irks many Saudis is that royals have made a racket of buying land on the cheap and sitting on it, pushing up housing prices and making homeownership an increasingly unattainable goal for the middle class. On Thursday, the Saudi investigation reportedly expanded to the United Arab Emirates, with authorities seeking bank account info on 19 Saudis implicated in holding illicit assets and embezzling government funds.Most observers don’t think it’s an anti-corruption drive alone.

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