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A new, made-in-China subprime crisis

February 17, 2016 - Uncategorized


As China’s banks struggle under the weight of never-to-be-repaid subprime loans (which were turned into bonds using the same trick that produced the US/EU subprime crisis), the Chinese government is throwing money at them to loan out to ever-dodgier borrowers, just to change the ratio of delinquent debts to ones that have yet to turn delinquent.


Source: Boing Boing

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