Posted on 09/16/2009 4:39:05 PM PDT by grey_whiskers
Hao Ting, who owns a petroleum-equipment business in Beijing, recalls the investment sales pitch from her private banker in Hong Kong at Singapore's DBS Bank: "The world is made for wealthy people. The more wealth you have, the easier it is to make money." Today she's out $10 million and owes the bank another $12 million. Hao and the bank are now suing each other in Hong Kong, with the bank saying it followed "local regulatory guidelines."
(Excerpt) Read more at forbes.com ...
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Cheers!
Comments welcome.
Cheers!
Here is the thing. Conservatives will need to realize that big large corporations are just as bad big large governments.
At least with government we can, in theory see what they are doing and fire them
Big large corporations, we can’t. And they are taking over governments and bailing themselves out with our tax dollars
Conservatives should be in favor of strong disclosure standards so investors don’t lose their shirt, and so taxpayers won’t have to bail them out.
Allowing corporations to become very big, is very anti market
Amen!
parsy, who agrees
Who would sign up for something so obviously risky and stupid? It shows that the rich don’t keep getting richer, they just cycle through.
There are a lot of stupid people out there.
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