This article at the link is so bad. We are supposed to say to ourselves as we read it, Bankers in the U.S. are OK because they are not as bad as the Chinese government and Chinese corruption.
The truth is, if the bankers had done in China what they did in the U.S., they would all be in jail or worse.
You’re looking at the wrong group of criminals. Do you think the banking crisis would have occurred if federal govt interference/regulation had not forced them into those positions?
gunsequalfreedom wrote: “The truth is, if the bankers had done in China what they did in the U.S., they would all be in jail or worse.”
..... Consider this a bit of tongue in cheek only - not looking to start an argument by any means. If the bankers were to do in China what they have gotten away with in the USA, I think that -just like here- nothing would happen to them. These sorts of gigantic organized financial manipulations and lootings cannot occur without the active connivance and cooperation of government.
The only case in which I can imagine the bankers taking a hit is if public outrage reaches such a point that the politicians feel obliged to sacrifice them in order to preserve their own positions.
The truth is, if the bankers had done in China what they did in the U.S., they would all be in jail or worse.
They would all be in jail or better.
“The truth is, if the bankers had done in China what they did in the U.S., they would all be in jail or worse.”
Outstanding point. Our bankers are in NO POSITION to lecture the Chinese or anyone on money management. It was so obvious that I even shorted a bunch of financials and made some nice money on the ride down...and got a nice car out of it.
Yes, the government pressed the banks...but there is a point where you must PUSH BACK, rather than destroy trillions of dollars of wealth.
US bankers get no sympathy from this FReeper (but they do a get a thank you, LOL).
The bankers in China work for the government.
They do exactly as the government tells them to do.