Massive corruption in China banks, 50 bln dlrs missing

Yahoo! News - AFP ^ | Fri Mar 11, 8:16 AM ET | unknown

[Drango]

Oopps!

[sushiman]

Sulplise sulplise ...

[A CA Guy]

I guess some people picked a bad time to stop sniffing glue and invest with stock in Chinese markets.

[ARCADIA]

It is nice to know that our principle creditor and supplier of all things is in such good shape.

[beaver fever]

In Canada we have a name for these people, 'Asian Entrepreneurs.'

[dog breath]

It is to be expected in a society where party officials are accustomed to doing as they please. In a society that is not open, all sorts of dark things can fester under the surface.

[The Spirit Of Allegiance]

TIME TO BLING IN ZE GROBAL CLOSSING BLOOKKEEPER?

[Bigun]

Ping!

[Samurai_Jack]

In a society that is not open, all sorts of dark things can fester under the surface.

I bet this is just the tip of the iceberg

[Guillermo]

"Principle creditor?"

Uhh, where are you getting your "facts?"

[Havoc]

You mean like here? lol

[blaze]

But I thought commies were all for one, and one for all...I guess they got the all for one part right!

[Joe Boucher]

Can you say new BOXER rebellion?
You go there boys.

[ARCADIA]

OK, second largest...for the moment.

"China is the second largest foreign holder of U.S. debt behind Japan....According to the Lehman report, China held 76 percent of its reserves in dollar-based debt in 2004, down from 82 percent in 2003. A larger share is now in euros."

The full article is available here: http://www.investors.com/breakingnews.asp?journalid=26409687&brk=1

[kb2614]

"Many corrupt officials and other criminals use company accounts to hide transfers and illegal income."



I don't think that money laundering is in the Little Red Book or Das Kapital.

[Jimmy Valentine]

I am sure these Chinese Bankers can have fulfilling careers at J.P. Morgan Chase, or Citibank.

[1FASTGLOCK45]

Ok Where's my money? Certainly not in china, i don't buy much "Made in Cheapa" stuff.
I bet BJClinton got some of that looty booty!

[Jimmy Valentine]

It has gone to earth in some very Chinese-type of hiding place.

The French have a phrase coined long ago which describes this type of behavior; "Chinoiserie".

Regards,

[1FASTGLOCK45]

Jimmy Valentine wrote:
It has gone to earth in some very Chinese-type of hiding place.


--> Is it buried with the KhimChee? I don't know how to spell it. I wonder if those that took the $$ are going to have a nice mass, Mass Burial that is.