http://www.reuters.com/article/marketsNews/idUSPEK16693720080925

raise your hand if you knew this was going to happen...

I wonder how far China is going to go in all this...

9/25/2008 11:22:27 AM

I didn't know this was going to happen, but fuck them.

Really, what the fuck ever. If China's government thinks that it can decide better who to lend to than its banks then so be it.

This isn't going to hurt shit, the markets were already constricting the money flow from China to the US and our trade deficit has at least arrested its growth. It's just one more meaningless move by a government to introduce an artificial market factor. Even if this were somehow stopping significant quantities of profitable money movements, then the market will just find some way around it, or make up for it in other kinds of bonds and investments.

All this does is isolate them further.

9/25/2008 11:32:15 AM

lol, maybe I was misinformed

I WENT STRAIGHT TO THE SOURCE, PEOPLE

http://www.cbrc.gov.cn/english/home/jsp/docView.jsp?docID=20080925621D9A7D9BA9E246FFAD2688373C5F00

Quote :

"CBRC Spokesperson's Statement The CBRC has never, by any means, ordered or told the Chinese commercial banks to stop lending to U.S. financial institutions. We strongly condemn the South China Morning Post for its irresponsible and groundless report, and we reserve the rights to take further actions including pursuing its legal responsibility if necessary. "

still... I wonder what China's role will be.

...

the biggest point is

I DON'T KNOW WHAT TO BELIEVE...

[Edited on September 25, 2008 at 11:34 AM. Reason : .]

9/25/2008 11:32:56 AM

Was gonna say, the market and financials are up 2% today, so they must not be concerned.

9/25/2008 11:35:51 AM

in my experience I know pretty well NOT to trust the Chinese government over....pretty much anything.

9/25/2008 11:38:38 AM

9/25/2008 1:44:53 PM

I'm glad its not true, but you can't be surprised by this. If things get uglier, the Chinese are going to do what they can to protect themselves, even if it means hanging us out to dry. Mind you, a collapsed US economy isn't going to do the Chinese much good either, but you can't really blame them for putting their own financial system first if things start to spread overseas.

9/25/2008 3:11:03 PM

Quote :

"If things get uglier, the Chinese are going to do what they can to protect themselves, even if it means hanging us out to dry. "

umm... I'm always thinking more direct and malicious actions.

9/25/2008 3:18:38 PM

I bet the editor of the South China Morning Post gets beheaded

9/25/2008 4:08:16 PM

Quote :

"Really, what the fuck ever. If China's government thinks that it can decide better who to lend to than its banks then so be it. This isn't going to hurt shit, the markets were already constricting the money flow from China to the US and our trade deficit has at least arrested its growth. It's just one more meaningless move by a government to introduce an artificial market factor."

Are you being sarcastic or what?

You do realize our gov. is in the midst of a debate on whether we can tell banks who to lend to, on top of taking ownership of failed banks and clearing out past management?

At least for the time being, we're in no position to criticize china's banking system... that'd be like telling them not to torture or something.

9/25/2008 6:26:50 PM

Quote :

"umm... I'm always thinking more direct and malicious actions."

Nah, the Chinese don't need an imploding American economy. They're not finished milking the American consumers yet.

9/26/2008 12:38:28 PM

I always figured that China would be the ones to bail us out.

Looks like they are tired of buying our worthless securities and t-bills.

9/26/2008 12:40:42 PM

Quote :

"I bet the editor of the South China Morning Post gets beheaded"

or a promotion in a few years

9/27/2008 1:33:15 PM

Speaking of China, and I the only one not upset at all about the tainted milk over there? It's about time they have to deal with some of the shit they've been sending us for years

9/29/2008 10:04:40 AM