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Fed clears China's first US bank takeover
Yahoo ^ | May 09, 21012 | GeorgeWashingtonsGhost

Posted on 05/09/2012 3:33:39 PM PDT by GeorgeWashingtonsGhost

The United States on Wednesday opened its banking market to ICBC, China's biggest bank, for the first time clearing a takeover of a US bank by a Chinese state-controlled company.

Just days after high-level US-China economic talks in Beijing, the Federal Reserve approved an application from Industrial and Commercial Bank of China to buy a majority stake in the US subsidiary of Bank of East Asia.

The transaction will make ICBC the first Chinese state-controlled bank to acquire retail bank branches in the United States.

ICBC has been the most aggressive of China's "big four" banks in expanding overseas.

According to the Fed the bank has total assets of roughly $2.5 trillion.

It will buy up to 80 percent of the US unit of the Hong Kong-based Bank of East Asia, which operates 13 branches in New York and California.

As part of the deal ICBC and two state-backed financial firms -- China's sovereign wealth fund the China Investment Corporation (CIC), and Central Huijin Investment -- will be recognized as bank holding companies, regulated as commercial US banks.

The broad expansion of China's footprint in the US market comes amid a series of financial reforms in China that could begin to open the lucrative market to US firms.

More at link..

(Excerpt) Read more at ca.news.yahoo.com ...


TOPICS: Breaking News; Government
KEYWORDS: bankofeastasia; banks; china; icbc; takeover
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China's tentacles are spreading far and wide and WITH OBAMA'S HELP.
1 posted on 05/09/2012 3:33:45 PM PDT by GeorgeWashingtonsGhost
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To: GeorgeWashingtonsGhost

“Please can I have some more melamine sir?””


2 posted on 05/09/2012 3:36:55 PM PDT by allmost
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To: GeorgeWashingtonsGhost

The Ameican government has made itself into the enemy of the American people.


3 posted on 05/09/2012 3:39:23 PM PDT by BenLurkin (This is not a statement of fact. It is either opinion or satire; or both)
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To: GeorgeWashingtonsGhost

hey did you hear obama supports gay marriage?
another reason he did this today I am thinking.

He is the enemy. All of his kind are.


4 posted on 05/09/2012 3:45:04 PM PDT by ColdOne (I miss my poochie... Tasha 2000~3/14/11 0bie don' t eat my dog!)
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To: ColdOne

Yes and strangeness and such.


5 posted on 05/09/2012 3:47:46 PM PDT by allmost
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To: BenLurkin
The Ameican government has made itself into the enemy of the American people.

Hate em back. Works for me.

6 posted on 05/09/2012 3:49:00 PM PDT by unixfox (Abolish Slavery, Repeal The 16th Amendment!)
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To: GeorgeWashingtonsGhost
Quick! Sell them derivatives, mortgage-backed securities, carbon futures!!!
7 posted on 05/09/2012 3:50:42 PM PDT by Carry_Okie (The environment is too complex and too important to manage by central planning.)
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To: GeorgeWashingtonsGhost

All of China’s banks are state-owned. Both US political parties work for the same class of constituents. No vote! No sales! Have fun. Enjoy the slide.


8 posted on 05/09/2012 3:54:44 PM PDT by familyop ("Wanna cigarette? You're never too young to start." --Deacon, "Waterworld")
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To: BenLurkin
The Ameican government has made itself into the enemy of the American people.

You have a limited vocabulary or or you're practicing copy paste Your post has the same error at U.S. Will Negotiate with Terrorists After All American.

9 posted on 05/09/2012 3:55:40 PM PDT by the_daug
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To: GeorgeWashingtonsGhost

And BTW, that story couldn’t be true, because according to the sponsored propaganda for over 5 years now, China’s been collapsing for 5 years. ;-)

The bond collapse and haircuts are coming. And for every quarter that the dollar is artificially propped up in this debt regime with inadequate manufacturing, the end of the default process becomes worse.


10 posted on 05/09/2012 4:01:09 PM PDT by familyop ("Wanna cigarette? You're never too young to start." --Deacon, "Waterworld")
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To: GeorgeWashingtonsGhost

0bama and crew just paying their ‘interest’ on loans by the Communist Chinese.


11 posted on 05/09/2012 4:03:46 PM PDT by combat_boots (The Lion of Judah cometh. Hallelujah. Gloria Patri, Filio et Spiritui Sancto.)
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To: GeorgeWashingtonsGhost

0bama is, in fact, the most successfully ANTI-American pres__ent to ever occupy the White House. This crap must be stopped, and the damage must be reversed.


12 posted on 05/09/2012 4:05:58 PM PDT by PubliusMM (RKBA; a matter of fact, not opinion. 01-20-2013: Change we can look forward to.)
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To: familyop
Enjoy the slide.

http://www.youtube.com/watch?v=r_zGw3hYkgo

13 posted on 05/09/2012 4:19:01 PM PDT by Repeat Offender (While the wicked stand confounded, call me with Thy Saints surrounded)
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To: GeorgeWashingtonsGhost


Branches in NY and CA. Of course.
This is the administration from Hell. Send it back.


14 posted on 05/09/2012 4:22:48 PM PDT by onyx (SUPPORT FREE REPUBLIC, DONATE MONTHLY. If you want on Sarah Palin's Ping List, let me know.)
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To: the_daug

Awesome. A spelling nazi double play!


15 posted on 05/09/2012 4:27:52 PM PDT by BenLurkin (This is not a statement of fact. It is either opinion or satire; or both)
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To: GeorgeWashingtonsGhost
China's tentacles are spreading far and wide and WITH OBAMA'S HELP.

Along with all U.S. POTUS and Boot Licking China loving congressman in both parties as well in the last 22 years. Their NWO has arrived. Make no mistake those we elected GOP & DEMs alike sold U.S. OUT.

16 posted on 05/09/2012 4:31:55 PM PDT by cva66snipe (Two Choices left for U.S. One Nation Under GOD or One Nation Under Judgment? Which one say ye?)
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To: BenLurkin

The American government has made itself into the enemy of the American people.

Provably true.


17 posted on 05/09/2012 4:43:39 PM PDT by Captain7seas (FIRE JANE LUBCHENCO FROM NOAA)
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To: GeorgeWashingtonsGhost

And they said it could not happen here....


18 posted on 05/09/2012 4:46:17 PM PDT by EBH (The redistribution of another man's money, does not create wealth for the "greater good.")
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To: GeorgeWashingtonsGhost
The transaction will make ICBC the first Chinese state-controlled bank to acquire retail bank branches in the United States.

Gee, can we sell it all to state controlled entities who's capitol is more fantasy then our own?
19 posted on 05/09/2012 5:01:33 PM PDT by Son House (The Economic Boom Heard Around The World => TEA Party 2012)
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To: GeorgeWashingtonsGhost

Well, good thing we got the President saying how great Gay Marriage is because there are going to be a lot of lonely Chinese men due to the one child policy and they will want their happy ending after we become beholden to them.....


20 posted on 05/09/2012 5:10:23 PM PDT by GraceG
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To: Son House

Nothing like a little ‘I support gay marriage’ announcement by Obama to smother this story in the press.


21 posted on 05/09/2012 5:12:00 PM PDT by GeorgeWashingtonsGhost
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To: GeorgeWashingtonsGhost
This isn't just Obama’s fault. There are people in both parties that support this.

A bank owned by a dictatorial, police state that practices forced abortion is not welcome here.

Let me be the first to say it, China is not our friend.

22 posted on 05/09/2012 5:23:07 PM PDT by Aglooka ("I was out numbered 5-to-1, I got 4.")
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To: GeorgeWashingtonsGhost

Is this what China got in return for allowing Chen to study abroad?


23 posted on 05/09/2012 5:30:27 PM PDT by chessplayer
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To: GeorgeWashingtonsGhost

Whats to lose ? Open em up on Tuesday and seize their assets on Wednesday ..... It’s the Chicago way !

2 Trillion in the bag ...cha chink errr cha ching ! ...ummm

Never mind.

BTTT !


24 posted on 05/09/2012 5:38:38 PM PDT by Squantos (Be polite. Be professional. But have a plan to kill everyone you meet)
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To: Aglooka

But a conservative, AMERICA-LOVING, AMERICAN SOVEREIGNTY-LOVING President would not have allowed it, nor would he had his little worker bees pimping for it.


25 posted on 05/09/2012 5:55:57 PM PDT by GeorgeWashingtonsGhost
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To: GeorgeWashingtonsGhost

Already posted


26 posted on 05/09/2012 5:56:16 PM PDT by katiedidit1 ("This is one race of people for whom psychoanalysis is of no use whatsoever." the Irish)
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To: GeorgeWashingtonsGhost; Admin Moderator

duplicate..http://www.freerepublic.com/focus/f-news/2881891/posts


27 posted on 05/09/2012 5:58:46 PM PDT by katiedidit1 ("This is one race of people for whom psychoanalysis is of no use whatsoever." the Irish)
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To: GeorgeWashingtonsGhost
HOW COME WE'LL IMPORT CHINA'S BANKS BUT NOT CANADA'S OIL?
Oh that's right, the banks deal benefits CHINA and the oil deal would've benefited US!
28 posted on 05/09/2012 6:03:36 PM PDT by GeorgeWashingtonsGhost
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To: katiedidit1
Uh, excuse me.. This post was posted BEFORE your post. Nice try though.
29 posted on 05/09/2012 6:07:39 PM PDT by GeorgeWashingtonsGhost
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To: GeorgeWashingtonsGhost

Like Clinton didn’t give China enough!


30 posted on 05/09/2012 6:33:58 PM PDT by ilovesarah2012
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To: GeorgeWashingtonsGhost
China's tentacles are spreading far and wide and WITH OBAMA'S HELP.

We have invited them into Texas to invest billions in Texas oil and gas resources (something Obama can't take credit for) and the person responsible was quite happy and quite comfortable with it. This is the way things are going.

On the plus side, the more they buy into our financial system, the less chances are that we'll go to war with them. On the down side, they can destroy our economy without firing a single shot.
31 posted on 05/09/2012 6:34:23 PM PDT by af_vet_rr
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To: af_vet_rr

That’s the end game. Conquering us without destroying anything. That’s the most ingenious form of war; A mix of Sun Tzu and Saul Alinsky.. Saul Tzu!


32 posted on 05/09/2012 6:42:53 PM PDT by GeorgeWashingtonsGhost
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To: GeorgeWashingtonsGhost

Then I sincerely apologize to you.


33 posted on 05/09/2012 6:43:52 PM PDT by katiedidit1 ("This is one race of people for whom psychoanalysis is of no use whatsoever." the Irish)
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To: BenLurkin
The American government has made itself into the enemy of the American people.

I'm just happy more and more people have finally come to that conclusion. It's become so painfully obvious.

34 posted on 05/09/2012 7:06:43 PM PDT by dragnet2 (Diversion and evasion are tools of deceit)
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To: GeorgeWashingtonsGhost

The camel’s nose is not just in our tent, it’s up our butts. No good will come of this as Communist China is not only our biggest lender, being inside our banking system provides them with unlimited access to manipulate our economy.


35 posted on 05/09/2012 7:17:24 PM PDT by RicocheT (Eat the rich only if you're certain it's your last meal)
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To: GeorgeWashingtonsGhost

Foreign state sponsored bank to destroy our domestic banks. This is so illegal. They cannot be sued but we sheeple bankers will get destroyed.


36 posted on 05/09/2012 7:32:52 PM PDT by JudgemAll (Democrats Fed. job-security Whorocracy & hate:hypocrites must be gay like us or be tested/crucified)
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To: onyx
My gosh Onyx...our country is being bought up from so many foreign powers it's worse than frightening Imo. I read some small community in our nation was bought by Vietnamese. Arabs and M. Easterner's too are buying vast properties and companies...by proxy.

We are soooo loosing our culture....and this evil administration doesn't bat an eye, rather paves the way for it all to happen.

37 posted on 05/09/2012 7:41:36 PM PDT by caww
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To: RicocheT
China is not only our biggest lender,... being inside our banking system provides them with unlimited access to manipulate our economy.

Now that's a frightening thought...but moreso will the banks be compliant? They are all bent on crashing the dollar....looks like it's coming one way or another.

38 posted on 05/09/2012 7:44:50 PM PDT by caww
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To: GeorgeWashingtonsGhost

Another “win” brought to you courtesy of the “free trade” movement.

Without the huge current account surpluses of “free trade” with the US, China would have no reason, nor the huge financial position, to do something like this.


39 posted on 05/09/2012 7:52:52 PM PDT by NVDave
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To: GraceG

“there are going to be a lot of lonely Chinese men due to the one child policy”

I believe I read that it was projected to be nearly 300 MILLION by 2050. Then the invasion starts. The number is currently over 40 Million more males than females (under age 65, about 35 if you include the elderly). 300 Million (or 40 Million, but it WILL be MUCH higher than that) is a lot of grunts. I wish I was wrong, but I’m, unfortunately, not.


40 posted on 05/09/2012 8:07:47 PM PDT by JDW11235 (http://www.thirty-thousand.org/ AND "The fat, spoiled, complacent kid is going on a diet." -Unkus)
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To: JDW11235
I believe I read that it was projected to be nearly 300 MILLION by 2050. Then the invasion starts.

They can invade San Francisco. They'll be waiting, bent over with cheeks spread.

41 posted on 05/09/2012 8:39:25 PM PDT by dragonblustar (Allah Ain't So Akbar!)
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To: caww

I wonder how much in overseas donations Pres. Obama will get this time around? Hmmmm... Chinese-controled US bank issues $1 billion in pre-paid credit cards....


42 posted on 05/09/2012 10:42:18 PM PDT by VanShuyten ("a shadow...draped nobly in the folds of a gorgeous eloquence.")
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To: BenLurkin

Yea, that was pretty slick research.
lol

If only he could channel that energy into discovering obama’s past......


43 posted on 05/09/2012 11:42:48 PM PDT by mowowie
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To: GeorgeWashingtonsGhost
China was in the stone age 25 years ago.

Now China makes everything (destroying U.S. ability to manufacture). And so since China makes everything then they have all the money to buy everything and lend to us (U.S.) so that we can buy more China crap.

China has all the technology, factories and so money. How come I and Pat Buchanan have figured this out but many on here ( free traders) and politicians haven't? The free traders are allowing China to destroy the U.S. and U.S. sovereignty.

Obama is the worst.

44 posted on 05/10/2012 3:54:48 AM PDT by rurgan (Sunset all laws at 3 years. China makes everything taking U.S. ability to manufacture)
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To: GeorgeWashingtonsGhost

Quid pro quo


45 posted on 05/10/2012 6:12:43 AM PDT by headstamp 2 (Liberalism: Carrying adolescent values and behavior into adult life.)
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To: rurgan
... How come I and Pat Buchanan have figured this out but many on here ( free traders) and politicians haven't? ...

R or D, they don't care. Their only interest is power and campaign contributions.

... The free traders are allowing China to destroy the U.S. and U.S. sovereignty. ...

Yup. Globalists and Free Traders are international communists/marxists/fascists in business suits. i.e. Cultural Marxism for the right. Marx advocated free trade devoid of patriotism and ethics to speed up the arrival of global communism. He also advocated central control of credit, aka the Fed.
46 posted on 05/10/2012 7:14:39 AM PDT by khelus
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To: khelus

Yup. Globalists and Free Traders are international communists/marxists/fascists in business suits. i.e. Cultural Marxism for the right. Marx advocated free trade devoid of patriotism and ethics to speed up the arrival of global communism. He also advocated central control of credit, aka the Fed.

Yeah and many “free” traders here tell me that they are for freedom and so so conservative , little do they know they agree with Marx , Obama and democrats on free trade.


47 posted on 05/10/2012 7:24:45 AM PDT by rurgan (Sunset all laws at 3 years. China makes everything taking U.S. ability to manufacture)
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To: allmost

I’d like MORE sawdust in my dumplings please, thank you.


48 posted on 05/10/2012 9:04:10 AM PDT by ichabod1 (Cheney/Rumsfeld 2012)
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49 posted on 05/10/2012 9:04:10 AM PDT by RedMDer (https://support.woundedwarriorproject.org/default.aspx?tsid=93)
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To: GeorgeWashingtonsGhost

I thought HSBC was a chinese takeover. I remember when they were Marine Midland.


50 posted on 05/10/2012 2:30:38 PM PDT by printhead (Standard & Poor - Poor is the new standard.)
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