Points to Ponder XIII

Here’s the story:

 

Lawmakers stay largely silent over Chinese takeover of US bank branches

U.S. lawmakers have been unusually silent about federal regulators’ decision to allow a Chinese bank to take over 13 bank branches in New York and California, suggesting that they think American banks have much to gain.

 

Here’s my question:

I was told the story I posted about China buying up our energy resources was ‘just business.’ I suppose this story is just more ‘business.’ But at what point does ‘just business’ become ‘they bought our country?”

2 thoughts on “Points to Ponder XIII

  1. While I’ll question the facts as presented- the US federal reserve has allowed the Chinese to take a controlling share in 1 lender. (bacixally ICBC- industrial & commerce bank of china has taken a controlling share in Bank of East Asias us unit. (marginally, at best, a Chinese bank taking over a “US” bank…

    And the only congress critter speaking up is Senator Bob Casey of PA- a Democrat.

    But like the “energy sector” you mention- I suppose the rest of the banks you mention are pretty muc hthe same. In terms of the oil companies China, or chinese companies, are buying a marginal, and non controlling, share. They are essentially providing their vast wealth to US companies- knowing full well they will see a return on their investment. It changes little…

    Part of the new realities America must face up to- and figure out how to deal with if it is to survive. I don’t have time to find the link at the moment – but the magazine “the week” had a blip a couple weeks ago- that the top 70Chinese Government officials wealth had grown by 11.5 billion last year- more then every meber of congress, the president, the entire cabinet, and the supreme court combined.

    Chinas unique blend of communism, capitalism…and ??? is essentially kicking americas ***. And we are very much seeing a replay of the dangerous game Reagan played with the USSR- bankruptcy via arms race. Except this time- it’s america who will be forced to blink first. (and in no small part we are paying the price for Reagans tripling of the national debt of all previous presidents combined- followed by both Bush’s massive increases (and Obamas continuation of the trend) – with only Clinton bucking the trend…

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