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My opposition to the very existence of the Federal Reserve aside, I have to say that I do not fear nor really care about this business transaction. The US subsidiary of the Bank of East Asia wanted to sell its operation. The Industrial and Commercial Bank of China was the highest bidder. Good for the Bank of East Asia! They have the right to maximize their revenue in the deal. To suggest otherwise would go against the tenants of capitalism. That I cannot support.
If you don't like the idea of a Chinese owned bank, don't bank there. The market will determine if it's acceptable or not.
have you noticed, GOPper, gas prices are declining
Some independants noticed and complained about it then too....and some, like me, even complained under clinton when clinton cozied up to china in the 90's.
What is your point? Pointing to the horrid decisions by clinton and bush with china doesn't lessen the negative view the people in this thread have of china currently buying our banks under the current administration.
it denotes the hypocracy on the right though.
This makes china lend money to us and when they are invested in us they want us to do well.
Pretty interesting way to keep them on our side huh?
I also find it comical how most of us against the fed were completely nutso kookoo up until about 2 years ago. At least there is sentiment progress there.
I do not agree with central banking in the least.