Discussion in 'Main Forum' started by robav8r, May 9, 2012.
YHGTBSM . . .
What's the issue?
EDIT: That's a horribly misleading title. ICBC is taking a controlling stake of a Hong Kong-owned bank's ~12 branches in the States.
Hopey-Changey strikes again.
Well, if you kinda-sorta believe in the free market system, I guess you have to take the warts too...
And they still claim to be Communists.
2 comments: (a) This is a government-owned entity making the investment, and (b) no U.S. banks own 100% of any banks in the PRC, nor does our government have an interest in any chinese banks. IOW, this investment is inherently unfair. But then, they're still buying US Treasuries - so we can't callout our masters on this hypocrisy.
While those points may be correct, they're moot because ICBC isn't buying an American bank.
gparks is right. It's a foriegn bank with US retail assets. Not uncommen.
I beg to disagree w/ you, fellas. It's the U.S. subsidiary of a Chinese bank. That means it has a banking charter issued by the U.S. government and the State of California. The U.S. subsidiary is a legally-chartered banking corporation in the United States of America. It is NOT a branch of the parent Chinese bank. I did spend 33 years in banking, and 20 of that in international banking (including running International Banking for a Texas bank), so I have been down a few of these roads.
So... if I read this right... the sky is falling?
Well, a Hong Kong-bank. So, again, what's the big deal? It's a U.S. subsidiary of a Chinese bank....becoming a U.S. subsidiary of a Chinese bank?
Isn't it always, though?
Why does this matter at all anyways? Are their ATMs going to have too much lead content or something?
Everything Chinese is bad... except for those 6-packs of tube socks at WalMart for $3.99 - those are OK.
Gotta get through deployment somehow...
Separate names with a comma.