Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: FiveFour who wrote (973)	3/1/2004 11:25:05 PM
From: ItsAllCyclical	Read Replies (1) of 116555

>> As much as 50% of Chinese bank loans are nonperforming, Mr. Greenspan said in a letter to Senate Banking Committee Chairman Richard Shelby (R., Ala.). The banking system can operate that way only if depositors don't pull out their money, he said. << Worded another way... As long as everyone has faith and keeps their money in China banks that are insolvent...we're ok. Does this strike anyone else as crazy that Greenspan can say things like this and it's not picked up more in the financial press? What an amazing global financial system we have.

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