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Discussion in 'News & Current Events' started by Bro. Curtis, Sep 25, 2008.

  1. Bro. Curtis

    Bro. Curtis <img src =/curtis.gif>

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    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)



    http://www.reuters.com/article/companyNewsAndPR/idUSPEK16693720080925
     
  2. tinytim

    tinytim <img src =/tim2.jpg>

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    Watching this is like watching a slow-motion implode!
     
  3. Bro. Curtis

    Bro. Curtis <img src =/curtis.gif>

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    Not coming at a good time for ole' Dubya, now, is it ?
     
  4. Crabtownboy

    Crabtownboy Well-Known Member

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    I have been wondering for some time when the Chinese would start pulling back from the US and stop propping up our economy. Next, if my guess is correct, they will stop buying bonds that we have been selling to fund the Iraq war. They are walking a tight rope on this one also.

    Looks like it is time we will have to start paying the piper.
     
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