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China To Buy US bank...Money talks

  1. Stacie L profile image89
    Stacie Lposted 5 years ago

    WASHINGTON (AP) - The Federal Reserve has for the first time given approval for a large Chinese bank to purchase a U.S. bank. It also gave approval to two other large Chinese banks to expand their operations in the United States.

    The Fed board announced Wednesday it was approving the application of the Industrial and Commerce Bank of China Limited, China's largest bank, and two other Chinese firms to purchase The Bank of East Asia U.S.A., located in New York City.

    The Fed also approved an application by the Bank of China to set up a branch in Chicago and an application by the Agricultural Bank of China Limited to establish a branch in New York City.
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    http://money.msn.com/business-news/arti … d=15089740
    China is gaining more control over US businesses and government;It is a little disconcerting

  2. paradigmsearch profile image92
    paradigmsearchposted 5 years ago

    Normally, I wouldn't be too thrilled about something like this...

    But if some foreign banks were to wander in here and set up fee structures, credit card interest rates, and contracts that didn't rob the customers blind, unlike what most of our current banks and credit card companies do, then maybe it might force our banks and others to do the same to remain competitive. Not sure...

  3. janesix profile image61
    janesixposted 5 years ago

    China is already buying Idaho. Why not our banks as well?

    Im just waiting for them to buy walmart, now that would be funny.

  4. Shadesbreath profile image85
    Shadesbreathposted 5 years ago



    America is doomed from within. The Chinese don't actually have to do anything else but wait for our own lack of critical thinking skills to make us implode.

  5. iefox5 profile image56
    iefox5posted 5 years ago

    US would not allow China to buy US banks.

  6. Daughter Of Maat profile image96
    Daughter Of Maatposted 5 years ago

    China has wanted to get their hands on the US for a really long time. We should really just hand over our government and say "here China, you can have the US." That's basically what we're saying if we let them buy our banks. We're already indebted to them for how much? They own our country simply  because it's collateral. I mean come on, how stupid can our government be? The government just smells money and is intoxicated by it. Nothin like getting a country drunk on money and then going "hahaha we own you."

    Hopefully, I'll be dead before China actually takes power.