“China’s Evergrande files for bankruptcy in New York court”
Smart move. In China they throw you in the Gulag if you file for bankruptcy.
I wonder how many public pension funds taxpayers will be bailing out...
Their house of cards is falling apart right before our very eyes...
I was wondering what was taking them so long. They are in deep crap.
The many times that Wall Street has allowed listings on exchanges by foreign companies is proof that Wall Street seeks profits at all costs, and of course those costs will again becoming from investors.
So, gloating about the failing idiocy which was the Evergrande and its speculative bubble thinking "great, it's Chinese" fails to take into account a lot of American venture capital and especially those "funds" -- public as well as private -- that invested and now will take a loss.
Just as our own home-grown idiocy in Solyndra and Proterra are losing propositions for taxpayers, the calls from some American funds to have some taxpayer related redress will come. Tick tock.