Author Topic: China comes to US banking  (Read 1301 times)

OldManSchmidt

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China comes to US banking
« on: May 09, 2012, 09:53:59 PM »
http://news.yahoo.com/fed-clears-chinas-first-us-bank-takeover-012927575.html

 Apparently, the  Fed has cleared a takeover deal  that will see a Chinese government owned bank  buying an 8 0  % stake in a bank operated in the US.

I am not much given to conspiracy  theories and I don't quite know what to think of this event, but my gut tells me that no good can come of it.

Offline Mr. Bill

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Re: China comes to US banking
« Reply #1 on: May 10, 2012, 10:57:15 AM »
Interesting.  Inevitable, I suppose.  China is too huge to not start doing stuff like this.

My cynical side wonders if a Chinese government-owned bank is worse than a US bank-owned government. :tinfoily:

Offline cmxterra

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Re: China comes to US banking
« Reply #2 on: May 10, 2012, 11:21:24 AM »
And all this happened while people were making a flap about Ă˜bama endorsing gay marriage. Diversion or tinfoil. You decide.

OldManSchmidt

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Re: China comes to US banking
« Reply #3 on: May 11, 2012, 11:41:20 AM »
You have a point, Mr. Bill.  Also to be fair, the bank they are taking over is the Hong  Kong based Bank of East Asia.  I can't rightly remember, but isn't Hong Kong some sort of autonomous region of China like Taiwan?