HomePortalLog inRegister

 

~ OUT OF SITE?... OUT OF MIND  ~  WELCOME TRUTH SEEKERS ~  WE COME TOGETHER AS ONE TO RAISE THE VIBRATION ON EARTH ~  IT'S TIME FOR AN EVOLUTION!  ~ 


Latest topics
» BEN FULFORD : Updated background briefing on the Yatagarasu or Three Legged Crow Japanese secret society
Today at 9:28 am by PurpleSkyz

» The Constant Companions: A Short Update On The Energies - July 26, 2014
Today at 1:57 am by PurpleSkyz

» Flaw in the monetary system
Yesterday at 9:51 pm by PurpleSkyz

» THE 6 METAPHYSICAL LAWS
Yesterday at 9:47 pm by PurpleSkyz

» CAUGHT IN THE ACT! – GIANT TRANSPORTING DOWN TO EARTH Steve Quayle – Indians Seeing Stargates Opening Up – Robert Morningstar Podcast A Must Listen for All Seekers
Yesterday at 9:21 pm by LavenderRose

» Clif High: Invisible forces, those for whom the supposedly top dog gods, the Annunaki, are mere puppets, seek to destroy the Living Consciousness of Water
Yesterday at 7:48 pm by PurpleSkyz

»  Robert Stanley - Megalithic Malibu Sphinx, Brahma, Buddha and underwater Malibu Spaceship linked to archonic 9500 BC Earth-Mars catastrophe
Yesterday at 7:23 pm by LavenderRose

» Ancient City Discovered after 1200 Years Submerged (awesome photos/video)
Yesterday at 7:20 pm by LavenderRose

» 28-07-2014: MONEY IS CREATED FROM VALUE, NOT THE OTHER WAY AROUND
Yesterday at 7:00 pm by PurpleSkyz

» POOFness Update Sunday July 27: "How Great !!"
Yesterday at 6:59 pm by PurpleSkyz

» History of God The Greatest Story Never Told
Yesterday at 6:50 pm by LavenderRose

» ★Symbology our Pineal Gland/Pine Cone & Ancients Secrets Discovered The Pyramid Chamber of Secrets Sunken Egyptian City Discovered after 1200 Years Submerged US investigates National Geographic over corrupt payments to Egypts keeper of antiquities
Yesterday at 6:40 pm by LavenderRose

» ★History of God★★★Documentary★★★
Yesterday at 6:34 pm by LavenderRose

» Mystical Healing Sonja Grace Discussions on Karmic Wounds & Our Energy Fields
Yesterday at 6:32 pm by LavenderRose

» ★Mike Adams the Health Ranger talks with Doctor Oz Toxic Heavy Metals in Superfoods
Yesterday at 6:30 pm by LavenderRose

» ★Virmanas Flying Machines of the Ancients★
Yesterday at 6:27 pm by LavenderRose

» ★GMOs Put A Hole In Your Gut (Watch Shocking Video with Dr. Mercola) You Will Never Eat Another GMO Food Again
Yesterday at 6:26 pm by LavenderRose

» Rupert Sheldrake and Deepak Chopra Akashic Records Morphic Fields We Live In
Yesterday at 6:24 pm by LavenderRose

» ★Circumcision Male Genital Mutilation ~ An Old and Outdated Medical Technique ~ Here’s the Reasons ~
Yesterday at 6:22 pm by LavenderRose

» ★DOLLAR COLLAPSE Russia and China to Kill the Dollar with Landmark Energy Deal (video) FDIC IS BROKE YOUR MONEY IN THE BANK AT RISK
Yesterday at 6:20 pm by LavenderRose

» ★Are You Still Swimming in the Pacific Ocean HEALTH ALERT Quadrillion Becquerels of Radioactive Cesium Keep Coming in From Japan
Yesterday at 6:19 pm by LavenderRose

» Proof of MSG, Formaldehyde, Aluminum and Mercury in Vaccines ~ The Autism Connections
Yesterday at 6:17 pm by LavenderRose

» 5 Darkest Coca-Cola Secrets
Yesterday at 4:50 pm by LavenderRose

» GO OUTSIDE AND PLAY! 6 Great Reasons to Exercise Outdoors
Yesterday at 3:57 pm by LavenderRose

» 1-Million-Year-Old Artifacts Found in South Africa
Yesterday at 3:48 pm by PurpleSkyz

»  IFrame Pope John Paul II was canonized as a saint alongside Pope John XXIII, on April 27 by Pope Francis. What a bunch of lies and EVIL they hide behind....Watch and listen to all these videos and you will learn much. How evil the Vatican is and they we
Yesterday at 3:27 pm by LavenderRose

» Ancient Peru: Link Between Elongated Skulls And Megaliths
Yesterday at 2:37 pm by PurpleSkyz

» Montague Keen . . . Monty shares such a powerful statement today
Yesterday at 2:33 pm by PurpleSkyz

» ~ GATES OF HADES Have Opened Today July 27th 2014 ~
Yesterday at 12:49 pm by PurpleSkyz

» Those Fractured Souls
Yesterday at 12:44 pm by PurpleSkyz

» HOW TO ALCHEMIZE THE NEW MOON ENERGY TO MANIFEST YOUR GOALS
Yesterday at 12:41 pm by PurpleSkyz

» Big Mystery in the Perseus Cluster
Yesterday at 12:37 pm by PurpleSkyz

» The Mysterious Genealogy of Russian President Putin: Is Vladimir Putin a relative of all royal families of Europe?
Yesterday at 12:33 pm by PurpleSkyz

» River In China Mysteriously Turns Bloody Red Overnight
Yesterday at 12:30 pm by PurpleSkyz

» Crop Circles At Etchilhampton Hill (1), Nr Etchilhampton, Wiltshire, United Kingdom. Reported 27th July And The Windmill, nr Quenington, Gloucestershire, United Kingdom, Reported 26th July 2014.
Yesterday at 12:27 pm by PurpleSkyz

» UFO in North York, Toronto? What is this?!? #UFO #Toronto 2014.07.26
Yesterday at 12:25 pm by PurpleSkyz

» As Within, So Without!! The New Moon Turns It All On!!
Yesterday at 12:12 pm by PurpleSkyz

» Smithfield : The Scene Of Ritual Slaughter in London
Yesterday at 9:45 am by PurpleSkyz

» HELLO : We Are The Rothschilds … We Own Israel – and Direct its Genocidal Policy
Yesterday at 9:41 am by PurpleSkyz

» Disconnecting from the Matrix and Reconnecting with Consciousness
Yesterday at 9:34 am by PurpleSkyz


AS ONE WE GATHER FROM AROUND THE GLOBE
OUT OF MIND DAILY NEWS

Enter your email address:

Delivered by FeedBurner

Subscribe to Out Of Mind

STEP OUT OF MIND ~ CLICK THE PIC TO GO TO ~ TRUTH FEEDS ~ PREP & SURVIVAL CENTER
~ ~ FEATURED MEMBERS SITES ~ ~ Ines Radman ~ CroatianLight

~ Nosmos ~
~ Nannee Rose ~
 
~ CLOUVERSE ~


Share | 
 

 U.S. Senator Questions Fed on Chinese Bank Decision

View previous topic View next topic Go down 
AuthorMessage
godsfool713



Posts: 958
Join date: 2012-01-04

PostSubject: U.S. Senator Questions Fed on Chinese Bank Decision   Sat May 12, 2012 1:42 pm

http://www.businessweek.com/news/2012-05-11/u-dot-s-dot-senator-questions-fed-on-chinese-bank-decision

U.S. Senator Questions Fed on Chinese Bank Decision
By Jim Rubin on May 11, 2012 Tweet Facebook LinkedIn Google Plus 3 Comments

A Federal Reserve decision to let Chinese banks acquire U.S. lenders was challenged by Senator Bob Casey, who said it could open the way for Chinese government-run institutions to undercut U.S. banks.

“I worry that these banks and their U.S. subsidiaries will use their state support as a way to underprice U.S. banks,” Casey, a Pennsylvania Democrat and chairman of the Joint Economic Committee, said in a letter yesterday to Fed Chairman Ben S. Bernanke.

Industrial & Commercial Bank of China Ltd. won approval from the Fed on May 9 to buy a U.S. lender in the biggest opening of the American banking market to Chinese companies. The Fed allowed ICBC to operate as a bank holding company, buying a controlling stake in Bank of East Asia Ltd. (23)’s U.S. unit. The Fed also let Bank of China Ltd. and Agricultural Bank of China Ltd. (601288) open U.S. branches.

The decision marks the first time that regulators have allowed a Chinese bank to buy a majority stake in a U.S. depository institution. ICBC Chairman Jiang Jianqing has spent more than $6 billion on acquisitions in regions spanning Asia to South Africa and the Americas over the past three years, seeking to triple the share of profit coming from abroad to 10 percent.

“China has a long and well-documented record of undercutting U.S. companies and workers,” Casey said in a statement. Its “history of flouting international trade rules requires that any involvement in the U.S. banking system needs close scrutiny.”

In his letter, Casey said he intends to press Bernanke to explain the Fed’s decision when he testifies before Congress’s Joint Economic Committee on June 7.

Toehold for Growth
The $140 million acquisition of 80 percent in Bank of East Asia’s U.S. arm gives Beijing-based ICBC 10 branches in California and three in New York, a toehold for U.S. growth. The initial agreement in January 2011 was among as many as 60 signed by Chinese and U.S. firms during President Hu Jintao’s visit for talks with President Barack Obama.

China Construction Bank Corp. (939), the nation’s second largest, is in talks to buy the South American assets of WestLB AG, the Wall Street Journal reported, citing a person it didn’t identify. The bank seeks the assets to pursue commercial banking in the continent in a deal that may be valued between $200 million and $300 million and wrapped up by June, the newspaper said.

ICBC was the largest bank in China at the end of 2011, with $2.5 trillion in assets, and is about 71 percent-owned by the government, according to the Fed’s order. Bank of East Asia, based in Hong Kong, is run by the family of Chairman David Li.

Bank of China, the third-largest Chinese bank by assets, received approval to open a federal branch in Chicago, while Agricultural Bank, the fourth largest, obtained approval to open a state-licensed branch in New York, according to the Fed.

To contact the reporter on this story: Jim Rubin in Washington at jimrubin@bloomberg.net

To contact the editor responsible for this story: Mark Silva at msilva34@bloomberg.net
Back to top Go down
 

U.S. Senator Questions Fed on Chinese Bank Decision

View previous topic View next topic Back to top 
Page 1 of 1

Permissions in this forum:You cannot reply to topics in this forum
Out Of Mind ::  ::  :: -