Screwed up with Russian default, Tech-bubble, housing too
But its the nature of all Central Banks. They are agents of government and the powerful, to protect their interests.
In the USA the maintain the pretense of independence. In China, they just do what the Party and Government tell them
The result is the same though.
How so?
But its the nature of all Central Banks. They are agents of government and the powerful, to protect their interests.
I agree, it's not in the interest of the government and the powerful to have the banking system crumble in a financial panic. Of course a banking system meltdown sucks for regular people too.