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

[wgadget]

...at the top of Drudge. OMG.

 

[AmericasLastHope]

...at the top of Drudge. OMG.

China is taking over a US Bank?

 

[ronpaulfollower999]

China is taking over a US Bank?

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

 

[wgadget]

With the Fed's blessing. I guess we shouldn't be surprised. But maybe peeps will start thinking that maybe Ron Paul is right and we SHOULD end the Fed. And Romney is a bankers dream.

 

[kathy88]

Here it comes.

 

[carterm]

WTF IS GOING ONNNN

 

[Elwar]

Texas is seceding and Ron Paul is running to become its new president.

 

[bluesc]

I don't see the problem.

This is nothing to do with any financial war with China, guys. Put the Mitt Romney/Pat Buchanan books down.

 

[wgadget]

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.

 

[bluesc]

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.

Would you oppose Chinese control over McDonald's too?

 

[DanK22]

Question answered.

My speculation... legal action against RNC & Romney for violating rule 11!

 

[wgadget]

Would you oppose Chinese control over McDonald's too?

I would. CHINA taking over our banks and businesses is not a good thing. It is not a free market when governments own everything. Not much different than what we already have. The Chinese are Communists, though. What's weird is that Bloomberg Business Radio hasnt said a word about it.

 

[kill the banks]

Question answered.

My speculation... legal action against RNC & Romney for violating rule 11!

I hope somebody goes after the bugger geez

 

[bluesc]

I would. CHINA taking over our banks and businesses is not a good thing. It is not a free market when governments own everything. Not much different than what we already have. The Chinese are Communists, though. What's weird is that Bloomberg Business Radio hasnt said a word about it.

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.

 

[tsai3904]

State owned companies usually do not have profits as their top priority.

 

[Dutch]

My speculation... legal action against RNC & Romney for violating rule 11!

This sounds very plausible to me, actually.
I guess I'll stay up a little longer for it (2:30 AM here )

 

[bluesc]

State owned companies usually do not have profits as their top priority.

I'm from the UK, you don't have to tell me that.

The large Chinese state-owned bank that just purchased the small retail bank is the most profitable bank in the world. They are successful at pulling in profits.

 

[Jingles]

Link...?

 

[bluesc]

Link...?

http://ca.news.yahoo.com/3-big-chinese-banks-enter-us-banking-market-185200086.html

 

[kathy88]

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