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Author: 307wolverine Big funky green star, 20000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 743972  
Subject: The Chinese banking crisis Date: 10/30/2013 8:22 PM
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http://www.americanthinker.com/2013/10/chinas_banking_crisis...

After 1999, over 40% of these state-owned-bank loans to state-owned-enterprises were written off as uncollectable. To give some perspective on the damage Chinese banks suffered, losses by U.S. from sub-prime lending was approximately $250 billion. If American banks' losses were to equivalent to the damage inflicted on Chinese banks, the U.S. losses would have been $7.7 trillion, or thirty times greater.

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Read the whole thing. When gov't control economic activity, politics always trumps economics. This is obviously a failure of the free market.
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