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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: russwinter who wrote (61845)	5/24/2006 10:11:32 AM
From: zebra4o1	Read Replies (3) of 110194

Russ, Have you seen Brad Setser's paper on this bizarre chinese banking system? Grant's this week had an extensive review of it. "Dilapidated, corrupt and essentially broke" rgemonitor.com Seems like a mistake to think of these things as banks, they are really more of a branch of the government used for massive Keynesian stimulus (and political favors). Can't understand how the Bank of China could suck in $10 billion of private money in this IPO. Who are these 'investors'?

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