Brother, will you spare a billion?

Uh-oh.

From Reuters:

BEIJING, Sept 25 (Reuters) – Chinese regulators have told domestic banks to stop interbank lending to U.S. financial institutions to prevent possible losses during the financial crisis, the South China Morning Post reported on Thursday.

The Hong Kong newspaper cited unidentified industry sources as saying the instruction from the China Banking Regulatory Commission (CBRC) applied to interbank lending of all currencies to U.S. banks but not to banks from other countries.

“The decree appears to be Beijing’s first attempt to erect defences against the deepening U.S. financial meltdown after the mainland’s major lenders reported billions of U.S. dollars in exposure to the credit crisis,” the SCMP said.

(Via From the Left)

Here’s the thing. Japan and China hold more of our debt than anyone else in the world. If the value of the dollar goes down, they are screwed. Guess what happens if the Fed prints more money? So now, who’s gonna buy our newest trillion dollar mistake?

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0 Responses to Brother, will you spare a billion?

  1. Wee Mousie says:

    Paulson is already running around Washington with his hair (sic) on fire.

    What is he going to set alight now, for an encore?

    Like

  2. Bruce388 says:

    Mad Dog ought to donate a few of his houses. And some of his $520 shoes.

    Like

  3. i hear Shop Rite is selling Wonder Bread of $567,500 per loaf this week

    Like

  4. Here’s the kicker: it’s in China’s best interest that the US recovers and does well. Funny, isn’t it?

    Like

  5. JimmyDean'sFuckedUpCousinClyde says:

    Yes, PiNYC, it is slightly perverse….. but even the loving and doting rich family member at some point decides to cut off the sponging kin and declares them independent.
    What the Asians really fear though, is the child setting fire to the house in neurotic retaliation:
    they’ve seen the American thirst for foreign blood, and distrust wisely.

    Like