From Reuters:
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.
How’s the Fed going to bail us out of that one?
Oh, China. You silly hypocritical ship rats, you. Though I suppose they can do what they want since America would cease to function without all the “Made in China” products. Pathetic little corner we shoved ourselves into, huh?
It’s too bad it’ll take this to create a true economy where American products are sold at fair market products.
I think it’s just stupid to rely on foreign banks to bailout other foreign banks. Especially if they’re already state-run banks such as Communist China has. You might also want to take a look at how Nicolas Sarkozy is also demanding that G-8 Summit members start regulate its markets.