Posted on 11/17/2009 8:51:41 PM PST by Lorianne
Chinese and U.S. regulators are negotiating a pact aimed at encouraging Chinese financial institutions to buy into small and medium-sized banks in the United States, bankers briefed on the plan said on Tuesday.
Chinese bankers have complained that it's been difficult for them to set up branches or invest in banks in the world's leading economy, due partly to U.S. regulators' tough supervision and strict approval process for financial deals.
But the global financial landscape has been revamped by the credit crisis, and cash-rich Chinese banks are now bigger players on the world scene and are scouting around for investment targets.
(Excerpt) Read more at cnbc.com ...
Obama is just visiting our jobs in China. He is the last in line of the failed New World Order...Presidents. Soon to be replaced mby Palin.
Why don’t we just give them a seat in congress.
I know, replace Barney Fwank and Chris Dudds with a couple of Chinese.
The United States is being set up for the greatest fall in the history of the world.
NOooo! Keep your filthy fingers off local economy’s!
Obama’s plan to sell America
At least we’d end up with a few new Representatives who understand capitalism and free markets!
Not good IMO.
This could be a good thing. If China invests in our banks, they are investing in small business. (It does say “small banks”)
Oh contrare. I think China is setting herself up to fail. There is something call the law of exuberance. Look at Japan in the 1990’s. She was on top of the world, holding the top three richest banks in the world. Flushed with money, what did her corporate CEO and bankers do, they made bad loans and brought overseas properties at peak prices. When real estate crashed in the 1987 Wall Street collapse, and many unsound loans (Japan did not use modern banking practices, loans were made to customers who had long relationship with banks, saying no to them was unheard of and culturally unacceptable) which destroyed their banking system financially and they have not recovered since. Fast foward to 2008, US banks retook the top position after Japan fell. Same problem, exuberance and the drive to beat last years earning records, government interference with cheap money made bankers leverage and take on higher risk loans and practices which ended just like Japan, a real estate collapse. Today the top three banks in the world is all Chinese. Question, will the Chinese also suffer from exuberance and make bad/reckless investment decisions like the Japanese and Americans????? Note: The Chinese do not adhere to modern banking practices either. Banks cannot refuse loans to the Princes/Princess ((children) of the ruling Communist Party. Many of these children were givened first dibs on corporate positions and opportunities. Many were involve in financial abuses and mismanagement. No one dare to stop them until it is too late. Time will tell.
Oh, great.
Kill the entire banking industry.
So much for the “buy local” mantra of the left.
Our country is slipping a way before our eyes.
Yes it is. I really don’t know if it is possible to save it.
Things might be too far gone.
WT bloody F?
Oh great...that is all we need...the Communist Chinese to buy our American banks
Except for the Liberals who support Free Trade with Communist China....not too many Americans will go for this
If I was China, I’d kick Barry right between the legs as hard I as possibly could.
You want China to do what YOU FAILED to do?!
Hey Barry, everything you do is over your pay grade, idiot.
At least we’d end up with a few new Representatives who understand capitalism and free markets!
ChiComs do not understand Free Markets.....they put trade barriers on US products entering Communist China....and, the ChiCom government only lets you do business it approves...note the ObamaMao t-shirts.
An excellent post...and you understand what really goes on in Communist China.
Not only nepotism (a big problem in every Communist regime) will get the Communist Chinese....but also the fact that few of their people have any wealth....the wealth is concentrated among the few, who have the approval and blessing of the Communist Chinese government
All party of Obama’s plan to ruin our country. It feels like we are being strangled.
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