jeypore
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Can you read? That article was from MARCH 2010 so it has been around a year, and nothing has happened.
And it said "China MAY face massive bank bailouts".
So it hasn't actually come true LOL.
Yes, Yes, Yes...
But back to the great Chianese banks:
Corruption remains a persistent problem throughout Chinese banking; government auditors two years ago uncovered a conspiracy between ICBC officials and a businessman in southern Guangdong province to defraud the bank of almost $1 billion.
Chinese banks, including ICBC, have required hefty government bailouts because of an avalanche of bad loans made for political reasons. Bankers insist that problem is in the past, yet even after ICBC goes public, Chinese government officials will retain operational control, including lending decisions.
"This is the worst (Chinese) bank to list so far, and it's attracted the most money. ... The thing that captures all of this is 'China fever,' " says skeptic Fraser Howie, author of Privatizing China.
USATODAY.com - Chinese bank IPO expected to raise $19 billion
The reason we started this useless argument is that Chinese Banks have never been bailout, infact it is far from the the truth!!! I know the reality hurts, but it is true!!!!!!!!