Posted on 09/28/2008 1:44:16 PM PDT by DeaconBenjamin
TIANJIN (CHINA): Bank of China, the country's largest foreign exchange lender, is open to buying into US banks in the wake of the global financial crisis, a senior executive said on Sunday.
Banking industry observers in China are torn over whether the fall in the share prices of many US financial firms presents more of a risk or a buying opportunity. Zhu Min, vice-president of Bank of China, did not shy away when asked whether his bank was currently considering making investments in Wall Street. "We are open. From a business point of view, we are looking for all the possible deals everywhere," Zhu told a meeting of the World Economic Forum being held in this northern port city.
While Zhu did not elaborate, his remarks contrast with more cautious comments by senior executives of other Chinese banks on their plans for expanding overseas. Guo Shuqing, chairman of China Construction Bank Corp said on Saturday that CCB would be relatively careful in considering whether to make purchases abroad, especially in the US.
Jiang Jianqing, chairman of Industrial and Commercial Bank of China, said that the country's biggest lender would be careful in exploring US acquisitions during the current turmoil. However, Antony Leung, chairman of greater China for US private-equity house Blackstone Group, said on Sunday that the recent fall in asset prices could present good buying opportunities for Chinese investors, including China Investment Corp (CIC), the $200 billion sovereign wealth fund.
"Right now, whether we're talking about CIC or other investors, I think it's a chance you see only once a century," Leung told the forum. "When the market is good, it's hard to even get the opportunity to buy a relatively big strategic stake in a good-quality company overseas. Now you have that chance."
Even kooks are right occasionally. But he’s still a kook. He should go way out of his way to avoid 911 truthers.
And they will do it from the profit off of running shoes (and a million other products) American bought from them. Those profits went into US Treasury bills so we could prop up our economy and buy more...
....and now they are buying US!
....this should demand a revolt - but against who? They are all guilty.
Just wait. Once it becomes obvious that Republicans are complicit in this, the kool-aid drinkers will actually start shining this turd called a bailout. Before its over, it’ll be the greatest thing ever AND the reason to re-elect those who supported it.
I do nt give a hoot about truthers. I care about the Constitution that is being taken out by a bunch of TRAITORS!!!
FR Keyword: moneylist
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Looky here, even Kooky Kucinich is right occasionally:
Kucinich On Bailout: “I’m not just gonna vote no, I’m gonna vote hell no!”
http://www.freerepublic.com/focus/f-news/2092588/posts
Kooky Kucinich for President!! Whoopee!!
lol
Especially if selling to China was perceived to "Save America From Financial Collapse".
I'll take a collapse over this alternative.
Paulson is too chumy with the Chinese, imo. He needs to be given his walking papers immediately!
"There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved."
---Ludwig Von Mises
wachovia, how’s your mandarin?
Guess that’s why Communist China doesn’t want to lend us the bail-out money. They would rather OWN us.
Finally, the Chinese are buying American products, for once. LOL.
They are not stupid like the Japanese: buy high and sell low.
Red China wants to halt lending us money for the bailout which I think is a good thing. Our politicians have been counting on this enemy for far too long.
But their reason is that they would rather own us and are “open” to buying our banks.
“Please press 1 for Mandarin, 2 for Spanish, 3 for Arabic, and 4 for English.”
And I would do the same thing in their position -- if I thought there was a good investment.
So is Bush & has been from day one can we do the same for him as well?
Which is perfectly fine to many hereon, I am afraid.
Duncan Hunter is right, and we would do well to listen to those few true patriots who sound the alarm.
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