If you think Wall Street is a mess, you haven’t been following the Chinese Communist’s idea of a stock exchange.
Stock prices going down? Close down the market! Yes, they do that in a “controlled” economy like China.
You’re a foreigner? You can’t own stock in a Chinese company! Yes, they can do that, too.
You want the stock market to go up? Print money and give it to market-makers to buy stocks. Yes, you can do that…but if you’ve been paying attention to China, that hasn’t been working lately. See, everyone buying Chinese stocks has been doing so with borrowed money. Which means, well, picture a house of cards…
China has fired the Top Man behind their security woes. Why is this funny? Earlier this month the Chicago Stock Exchange reported that it was being purchased by a large Chinese corporation.
How’s that for a good joke?
There’s much more behind the Chinese purchase after first blush, and it’s unlikely the US will allow the sale to go through. The greatest reason is that this particular Chinese corporation has the stench of Communist government backing and influence, meaning once they’ve got control of an American financial exchange they have a backdoor into the US financial infrastructure. The Chinese government is already blatantly hacking into every US institution they can, why give them the Chicago Stock Exchange? It’s like putting a Chinese Destroyer in Lake Michigan.
What we find very disturbing about the 45 Congressmen who signed the petition calling for a Treasury Department review of the Chinese deal for the Chicago Exchange?
Only 1 Democrat signed on to the petition. The other 44 were Republicans.
What happened to the Democrats? Are they kissing up to Chinese money? Or did the Repubs simply forget to ask them if they wanted to sign on to a good thing?
We’d like to know. It’s an important issue. And it’s no time to play Party Politics when national security is at stake.