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China banks told to halt lending to US banks

Discussion in 'Sports and News' started by poindexter, Sep 25, 2008.

  1. poindexter

    poindexter Well-Known Member

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

    Now here's something you should be scared of, folks. When our Chinese overlords stop playing ball, its GAME OVER for us.

    BEIJING, Sept 25 (Reuters) - Chinese regulators have told domestic banks to stop interbank lending to U.S. financial institutions to prevent possible losses during the financial crisis, the South China Morning Post reported on Thursday.

    The Hong Kong newspaper cited unidentified industry sources as saying the instruction from the China Banking Regulatory Commission (CBRC) applied to interbank lending of all currencies to U.S. banks but not to banks from other countries.

    "The decree appears to be Beijing's first attempt to erect defences against the deepening U.S. financial meltdown after the mainland's major lenders reported billions of U.S. dollars in exposure to the credit crisis," the SCMP said.

    A spokesman for the CBRC had no immediate comment. (Reporting by Alan Wheatley and Langi Chiang; editing by Ken Wills)
     
  2. Football_Bat

    Football_Bat Well-Known Member

    Not in China's interest to let us go under yet. If we go down, they go down too because they are so dependent on us to buy their stuff. Who else are they gonna sell all those flip-flops, HDTVs and human organs to?
     
  3. Tom Petty

    Tom Petty Guest

    no it's not, but it does make you wonder what's up with that.

    do they think we're so far under the bus that they're not going to go down with us?
     
  4. Michael_ Gee

    Michael_ Gee Well-Known Member

    It's just a gentle squeeze of the nuts to remind Wall Street and Washington not to THINK about missing a payment.
    It would in both human and economic terms be better for China to use that money to invest in domestic consumption, but as humans are wont to do, they are reluctant to change a policy that's worked for a long term, even when they suspect it might not work anymore.
     
  5. poindexter

    poindexter Well-Known Member

    Some things we had better start learning to say in Chinese:

    "Shine your shoes, most honorable sir?"
    "Would beautiful lady like to buy some flowers?"
     
  6. slappy4428

    slappy4428 Active Member

    "Would you like more cat?"
     
  7. Boom_70

    Boom_70 Well-Known Member

    "no ticky no laundry"
     
  8. Tom Petty

    Tom Petty Guest

    housing market rebounding yet in your neck of the woods?
     
  9. Ben_Hecht

    Ben_Hecht Active Member

    Tom Friedman's making a career of kissing their asses.

    The Clintons did.

    NIXON did.

    Away we go.
     
  10. forever_town

    forever_town Active Member

    Shouldn't this be in Politics?
     
  11. hockeybeat

    hockeybeat Guest

    It is news, no?
     
  12. Boom_70

    Boom_70 Well-Known Member

    Seems more like macro economics to me. Perhaps we need an economics board.
     
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