Business

‘Real News From The Blaze’: Is a Chinese Bank Invasion Underway?

On Wednesday the Federal Reserve approved plans by three state-backed Chinese banks to expand in the U.S., including the first acquisition of a U.S. retail-banking network by a state-owned Chinese lender. The Wall Street Journal reports that the approval is a landmark step for U.S. banking regulators, and allows Chinese banks to finally be able to provide financing to Chinese companies operating overseas, and to do business with foreign investors looking for exposure to the Chinese currency. The decision could though open the door to other Chinese takeovers of U.S. banks, although it is unlikely China will make significant inroads into the U.S. banking industry anytime soon. Gordon Chang of Forbes.com joined the panel to discuss the move and what it could mean long term for the U.S. financial system.

“Do we want Chinese state enterprises, essentially parts of the Chinese government, being integral parts of our economy.” Chang remarked. “I actually don’t think so.”

Watch a clip of the interview below:

Comments (30)

  • Nervous Investor
    Posted on May 15, 2012 at 8:55am

    Really ! So what are the Chinese doing that the US has not already done around the world? Stealing technology? think about the German Rocket Scientists after WWII that were grabbed and shipped to the US and who were the initial bedrock for the foundation of NASA – think about all the technology that the US got from Britain in the last couple centuries – think about all the stuff that Western Powers (including the US) took from China over the last three hundred years (what do you think the purpose of the US Clipper ships was?) …. and the Opium wars … think about the attempts by US business to patent DNA and other biological elements from people and other living things around the world. Again, I have no love for the Chinese but I do not like the self righteous whining especially when the US’s own house is so dirty already with extra territorial grabs at the international banking system like the FATCA regulations and the total disrespect for the Sovereignty (and the Savings denominated in US$) of other nations. And the US Voter is kept ignorant and baffled by Carnival Barkers and Three Card Tricksters whilst THEIR savings and work over the centuries is devalued as the Fed Printing Press creates more decorative toilet paper with which to fool the people again. The arrogance is outrageous.

    Report Post »  
  • ASE
    Posted on May 14, 2012 at 8:15am

    I don’t even what the federal reserve in the U.S., not to mention the chinese commies infiltrating our banks. Once they gain a ‘critical mass’ in the U.S. banking industry, what is to stop them from using it as a lever (or a big stick to bash in our heads) to influence U.S. policy in their favor?

    I mean, seriously folks, how much of a grip must the enemy have on your throats before you see the risks involved if he decides to squeeze?

    Report Post »  
    • Nervous Investor
      Posted on May 15, 2012 at 9:00am

      You mean like the US is currently doing threatening the worldwide banking system with FATCA costs and unlawful taxation? The US needs to clean up its own house fast. The US is needed but it must regain some sense of MORAL authority but it cannot do that whilst breaching with (economic) force the Sovereignty of other nations.

      Report Post »  
  • SNAFOO
    Posted on May 12, 2012 at 10:47am

    36. Infiltrate and gain control of more unions.

    37. Infiltrate and gain control of big business.

    38. Transfer some of the powers of arrest from the police to social agencies. Treat all behavioral problems as psychiatric disorders which no one but psychiatrists can understand [or treat].

    39. Dominate the psychiatric profession and use mental health laws as a means of gaining coercive control over those who oppose Communist goals.

    40. Discredit the family as an institution. Encourage promiscuity and easy divorce.

    41. Emphasize the need to raise children away from the negative influence of parents. Attribute prejudices, mental blocks and retarding of children to suppressive influence of parents.

    42. Create the impression that violence and insurrection are legitimate aspects of the American tradition; that students and special-interest groups should rise up and use ["]united force["] to solve economic, political or social problems.

    43. Overthrow all colonial governments before native populations are ready for self-government.

    44. Internationalize the Panama Canal.

    45. Repeal the Connally reservation so the United States cannot prevent the World Court from seizing jurisdiction [over domestic problems. Give the World Court jurisdiction] over nations and individuals alike.

    Report Post » SNAFOO  
  • SNAFOO
    Posted on May 12, 2012 at 10:46am

    25. Break down cultural standards of morality by promoting pornography and obscenity in books, magazines, motion pictures, radio, and TV.

    26. Present homosexuality, degeneracy and promiscuity as “normal, natural, healthy.”

    27. Infiltrate the churches and replace revealed religion with “social” religion. Discredit the Bible and emphasize the need for intellectual maturity which does not need a “religious crutch.”

    28. Eliminate prayer or any phase of religious expression in the schools on the ground that it violates the principle of “separation of church and state.”

    29. Discredit the American Constitution by calling it inadequate, old-fashioned, out of step with modern needs, a hindrance to cooperation between nations on a worldwide basis.

    30. Discredit the American Founding Fathers. Present them as selfish aristocrats who had no concern for the “common man.”

    31. Belittle all forms of American culture and discourage the teaching of American history on the ground that it was only a minor part of the “big picture.” Give more emphasis to Russian history since the Communists took over.

    32. Support any socialist movement to give centralized control over any part of the culture–education, social agencies, welfare programs, mental health clinics, etc.

    33. Eliminate all laws or procedures which interfere with the operation of the Communist apparatus.

    34. Eliminate the House Committee on Un-American Activities.

    35. Discredit and eventually dism

    Report Post » SNAFOO  
  • SNAFOO
    Posted on May 12, 2012 at 10:46am

    12. Resist any attempt to outlaw the Communist Party.

    13. Do away with all loyalty oaths.

    14. Continue giving Russia access to the U.S. Patent Office.

    15. Capture one or both of the political parties in the United States.

    16. Use technical decisions of the courts to weaken basic American institutions by claiming their activities violate civil rights.

    17. Get control of the schools. Use them as transmission belts for socialism and current Communist propaganda. Soften the curriculum. Get control of teachers’ associations. Put the party line in textbooks.

    18. Gain control of all student newspapers.

    19. Use student riots to foment public protests against programs or organizations which are under Communist attack.

    20. Infiltrate the press. Get control of book-review assignments, editorial writing, policymaking positions.

    21. Gain control of key positions in radio, TV, and motion pictures.

    22. Continue discrediting American culture by degrading all forms of artistic expression. An American Communist cell was told to “eliminate all good sculpture from parks and buildings, substitute shapeless, awkward and meaningless forms.”

    23. Control art critics and directors of art museums. “Our plan is to promote ugliness, repulsive, meaningless art.”

    24. Eliminate all laws governing obscenity by calling them “censorship” and a violation of free speech and free press.

    Report Post » SNAFOO  
  • SNAFOO
    Posted on May 12, 2012 at 10:42am

    So when exactly did we decide that the Chi Com’s are our friends?
    Let me re-iterate the Communists Goals from 1963

    CURRENT COMMUNIST GOALS

    1. U.S. acceptance of coexistence as the only alternative to atomic war.

    2. U.S. willingness to capitulate in preference to engaging in atomic war.

    3. Develop the illusion that total disarmament [by] the United States would be a demonstration of moral strength.

    4. Permit free trade between all nations regardless of Communist affiliation and regardless of whether or not items could be used for war.

    5. Extension of long-term loans to Russia and Soviet satellites.

    6. Provide American aid to all nations regardless of Communist domination.

    7. Grant recognition of Red China. Admission of Red China to the U.N.

    8. Set up East and West Germany as separate states in spite of Khrushchev’s promise in 1955 to settle the German question by free elections under supervision of the U.N.

    9. Prolong the conferences to ban atomic tests because the United States has agreed to suspend tests as long as negotiations are in progress.

    10. Allow all Soviet satellites individual representation in the U.N.

    11. Promote the U.N. as the only hope for mankind. If its charter is rewritten, demand that it be set up as a one-world government with its own independent armed forces. (Some Communist leaders believe the world can be taken over as easily by the U.N. as by Moscow. Sometimes these two centers compete with each other as they are

    Report Post » SNAFOO  
  • speedeesam
    Posted on May 11, 2012 at 8:50pm

    If this is not a Wake Up Call, there will never be another one. America WAKE UP!

    Report Post »  
  • truther2
    Posted on May 11, 2012 at 6:39pm

    Chinese Invasion coming because they want to buy some of our Banks? I think not. In fact, some of us call it a Rescue – - and a recognition, that help is on the way.

    Let’s hope that this Bank Purchase is is only the First, of Many! These new Chinese initiatives, gives hope that one day soon, an Alternative Banking System can be established here; and one that has something other than a Corporate Predatory Culture. Chi-na, Chi-na, Chi-na!

    Report Post »  
  • truther2
    Posted on May 11, 2012 at 6:29pm

    Minions.

    What happened to your support for a unregulated, free market system? You can bet that China’s Banks here, won’t be compromised by Rich Robber Barons types; you know, the one’s here; that have done so much damage to our Financial System.

    Hey, if you don’t like the Chinese buying up our Assets; show these Asset Owners the Money! Step up to the Plate, ********; and buy, these troubled Bank(s), yourselves. What? No money? How’d that ever happen?

    The Chinese are rather good managers of money. Steal from them, and they will cut your hand off – - or maybe your head! That kind of penalty tends to keep their Employees honest; especially when dealing with OPM.

    This is only the beginning of Chinese acquisitions; more are likely to follow. Get used to it! You probably know too, that the Wealthy Chinese have been buying up some of the Large Foreclosed Homes that are sitting empty throughout the U.S. Yep! The Chinese are coming; and with them; likely, their Government’s version of State Controlled Capitalism.

    We have no one to blame but ourselves; because, in a Democracy the People get Exactly what they Deserve! We (you and I), have met the Enemy, and he is US!

    Report Post »  
  • truther2
    Posted on May 11, 2012 at 6:04pm

    It was the Wall Street Banking and Investment Houses; in collusion with Bush II, that contributed greatly to the Financial Fall of this once great Country. Now, with JP Morgan-Chase’s announcement, the Robber Barons are back at it. Why is it, that the so-called, Best, and Brightest, among us; need to be monitored and regulated the most? Why do these people have such a propensity to Steal?

    The Big Banks know they are too Big to fail; and their behavior reflects a Financial Industry completely out of control. Enough is enough! Regulate the Big Banks very tightly, and Tax the hell out of them. It’s one thing to Hedge a Bet; and, quite another, to Bet on the Failure of the U.S., and, it’s Institutions.

    Isn’t it a bit Ironic too, that the very people who espouse the Virtures of an un-Regulated Free Market Economy; are the very People that are putting American Capitalism at-risk. As the Fed Chairman from Dallas recently said, “It’s time to Break the Big Banks up.” Folks, they cannot be Trusted to carry out their Fudiciary responsibility in managing OPM! The, “Bigs,” got to go!

    Report Post »  
  • pappap42
    Posted on May 11, 2012 at 3:06pm

    And just what could go wrong. I swear the “FOOLS” are running the country are insane. Why don’t we just cut are throats now.

    Report Post »  
  • JEANNIEMAC
    Posted on May 11, 2012 at 12:59pm

    http://endoftheamericandream.com/archives/a-chinese-group-plans-to-construct-a-200-acre-china-city-in-michigan
    Years ago, Bill Ayers, Obama’s friend, said the Chinese and Russians would want to choose places for themselves in America. It is happening.

    Report Post »  
  • JEANNIEMAC
    Posted on May 11, 2012 at 12:58pm

    http://theintelhub.com/2011/06/08/china-wants-to-construct-a-50-square-mile-self-sustaining-city-south-of-boise-idaho/

    Report Post »  
  • JEANNIEMAC
    Posted on May 11, 2012 at 12:52pm

    http://www.stoptheaclu.com/2008/10/22/obamas-friend-bill-ayers-planned-taking-over-government-re-education-camps-and-genocide/

    Report Post »  
  • flsnipe
    Posted on May 11, 2012 at 11:42am

    Wolf is in the Hen house.

    Report Post » flsnipe  
  • Mandors
    Posted on May 11, 2012 at 9:48am

    We don’t have an American in the White House. Why should be be surprised he doesn’t care?

    Report Post » Mandors  
  • mike_trivisonno
    Posted on May 11, 2012 at 9:05am

    I heard they are giving away ground-baby-flesh capsules to all those who open a new Small Business Checking account.

    China is one effed up country. I used to have a grudging respect for their ancient culture but not anymore. Honestly, who microwaves dead babies and turns their flesh into “curatives”?

    It is insanity.

    Report Post » mike_trivisonno  
  • RedDirtTexas
    Posted on May 11, 2012 at 8:41am

    Remember “buy american”? We need to resurrect that slogan and ideology! Domestic energy, domestic investment, domestic goods and services! Screw the commies!

    Report Post » RedDirtTexas  
  • MatrixRedPill
    Posted on May 11, 2012 at 7:58am

    Let us make some lemonade. We can exchange the $ into RMB and actually save the value of our hard earned money.

    Report Post »  
  • barber2
    Posted on May 10, 2012 at 11:52pm

    More of the “Destroy America ” economic plan of our Far Left Democrats who hate our traditional American values. Nothing like allowing the country, which is hacking our computer world for espionage , to now have access to our financial world ! A truly “ stupid ” move by our clueless by our New Far Left Democrat Party. Just how much does Barack Obama / Democrats hate America ?? And, how much can older, traditional , and so-called Catholic Democrats support his Marxist policies ?

    Report Post »  
    • lukerw
      Posted on May 11, 2012 at 1:58am

      Banks, which were bailed-out, in order to keep the Economy stable… form the Federal Reserve… and are now Selling Out America… resulting in a Double Treason!

      Report Post » lukerw  
  • lukerw
    Posted on May 10, 2012 at 10:50pm

    Vengence… of the RailWay Workers!

    Report Post » lukerw  
  • soybomb315
    Posted on May 10, 2012 at 10:47pm

    its not their fault our currency is becoming worthless

    Report Post » soybomb315  
    • lukerw
      Posted on May 10, 2012 at 11:08pm

      Or… is it… a World Wide Communist Plot… planned for Decades?

      Report Post » lukerw  
  • Teabunny
    Posted on May 10, 2012 at 10:25pm

    uh oh…honey…the landlord is coming up the drive. Do we have the rent?

    Report Post » Teabunny  

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