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The Financial invasion of America !! - Fed Clears China's First US Bank Takeover !! - And It Starts !!

 
wise1
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05/09/2012 07:32 PM

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The Financial invasion of America !! - Fed Clears China's First US Bank Takeover !! - And It Starts !!
The United States on Wednesday opened its banking market to ICBC, China's biggest bank, for the first time clearing a takeover of a US bank by a Chinese state-controlled company.
Just days after high-level US-China economic talks in Beijing, the Federal Reserve approved an application from Industrial and Commercial Bank of China to buy a majority stake in the US subsidiary of Bank of East Asia.
The transaction will make ICBC the first Chinese state-controlled bank to acquire retail bank branches in the United States.
ICBC has been the most aggressive of China's "big four" banks in expanding overseas.


[link to ca.news.yahoo.com]

Last Edited by wise1 on 05/09/2012 07:43 PM
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05/09/2012 07:33 PM
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Re: The Financial invasion of America !! - Fed Clears China's First US Bank Takeover !! - And It Starts !!
"It will buy up to 80 percent of the US unit of the Hong Kong-based Bank of East Asia"
Anonymous Coward
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05/09/2012 07:36 PM
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Re: The Financial invasion of America !! - Fed Clears China's First US Bank Takeover !! - And It Starts !!
What happens when you don't pay your mortgage---do you go to a camp?

I guess it beats making money selling crappy plastic toys.
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05/09/2012 07:37 PM
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Re: The Financial invasion of America !! - Fed Clears China's First US Bank Takeover !! - And It Starts !!
Pin this!

The Financial invasion of America
wise1 (OP)
IamNotHuman

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05/09/2012 07:38 PM

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Re: The Financial invasion of America !! - Fed Clears China's First US Bank Takeover !! - And It Starts !!
That is how you take over a country, without ever firing a bullet.

Last Edited by wise1 on 05/09/2012 07:39 PM
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05/09/2012 07:56 PM
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Re: The Financial invasion of America !! - Fed Clears China's First US Bank Takeover !! - And It Starts !!
Some people have a lot of catching up to do. "The financial invasion of america" happened before anybody reading this grandparents were alive.

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