Maybe the answer to the great Doug Wead/Stossel mystery can be found....

[TrishW]

Huh? How can the Fed allowing China to take over US banks be a good thing? They will be buying more than banks before you know it. I was WONDERING why Hillary and Geithner were over there last week.

How could it be a good thing? Think about it... next time China can bail them out.

 

[tbone717]

The same banking regulations will apply to this bank. Just as the same food hygiene regulations would apply to McDonald's.

This is a small, commercial bank. Chinese ownership will not be crashing any markets. They aren't in it to crash the bank. They are interested in profits. This acquisition is insignificant in the grand scheme of things.

Many other state-owned banks have been operating in the US for years. Where was the outrage then? China isn't a big scary monster.

That said, I still oppose state owned banks taking over other banks, but it's not big scary news, it's just a continuation of the same system that has been in place for centuries.

I'm with you on this. This does remind me of in the 80's when we feared that Japan was going to own everything over here.

 

[wgadget]

Why is this thread two stars? That's harsh.

I guess somebody thought it was a bad thread? Btw, anyone know what the hoopla was all about yet?

 

[J_White]

i second that ! people were reading too much into those comments.

But I don't know why this would be the big Wead/Stossel mystery? Honestly, I kinda think this is all misunderstood hype.