Real Estate Lender Implosion

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Western banks face backlash as they hand out begging bowl

Feb 7 2008

In China, for example, there are rising complaints that funds are foolish to shovel cash directly into risk-laden US banks when they could be using it in better ways, such as purchasing western commodity or manufacturing groups. “The Chinese are worried they are turning into [the source of] dumb money,” says one well-placed Asian financier, who partly blames the trend on the Blackstone saga, which produced significant paper losses for the Chinese investors.


http://wallstreetexaminer.com/blogs/winter/?p=1403

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