The Chicoms are Coming

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I just got this in a email a few minutes ago, and I still cannot believe it.
I was not even aware the Fed was considering allowing the commie banks to set up shop and thus gain a foothold here in Amerika, but that is exactly what is in the works.
I guess I should not have been surprised.
Via  ca.news.yahoo.com:

Fed clears China’s first US bank takeover

By Veronica Smith
The United States on Wednesday opened its banking market to ICBC, China’s biggest bank, for the first time clearing a takeover of a US bank by a Chinese state-controlled company.
Just days after high-level US-China economic talks in Beijing, the Federal Reserve approved an application from Industrial and Commercial Bank of China to buy a majority stake in the US subsidiary of Bank of East Asia.
The transaction will make ICBC the first Chinese state-controlled bank to acquire retail bank branches in the United States.
ICBC has been the most aggressive of China’s “big four” banks in expanding overseas.
According to the Fed the bank has total assets of roughly $2.5 trillion.
It will buy up to 80 percent of the US unit of the Hong Kong-based Bank of East Asia, which operates 13 branches in New York and California.
As part of the deal ICBC and two state-backed financial firms — China’s sovereign wealth fund the China Investment Corporation (CIC), and Central Huijin Investment — will be recognized as bank holding companies, regulated as commercial US banks.
The broad expansion of China’s footprint in the US market comes amid a series of financial reforms in China that could begin to open the lucrative market to US firms.
After the May 3-4 meeting, the US Treasury noted China had made “encouraging progress” on a number of issues sought by the Obama administration, including taking steps toward a more open and market-oriented financial system.
The Fed said Wednesday that the ICBC proposed acquisition, which is “relatively small,” would not have much of an impact on the banking market.
“The combined deposits of the relevant institutions in the Metropolitan New York banking market represent less than one percent of market deposits,” the central bank noted.
The competition includes Bank of China branches in the New York metropolitan area, and CIC, which has a noncontrolling stake in Morgan Stanley.
ICBC will pay $140 million to buy an 80 percent interest in Bank of East Asia USA, China’s state news agency Xinhua reported in January 2011, at the time the deal was signed.
“This unprecedented acquisition of a controlling stake in a US commercial bank by a mainland bank is strategically significant,” Xinhua quoted ICBC chairman Jiang Jianqing as saying.
The Fed said its Board also consulted with the China Banking Regulatory Commission, the country’s main banking regulator, and pointed to steady improvement in regulation since its founding in 2003.
“For a number of years, authorities in China have continued to enhance the standards of consolidated supervision to which banks in China are subject, including through additional or refined statutory authority, regulations, and guidance,” it said.
In other Fed board decisions, Bank of China, the third-largest bank, won approval for a branch in Chicago. Bank of China operates two insured federal branches in New York City and an uninsured branch in Los Angeles.
Agricultural Bank of China, the fourth-largest bank, was set to establish a branch in New York City, where it already operates a representative office.
-End 

Comrades


If the republicans will not go verbally ballistic over this atrocity, then they can all go straight to Hell, but not before being thrown out of office, arrested, prosecuted, been thrown under the jail, and the concrete floor poured on top of them.
Nothing good will come of this, and congress needs to step in and stop it, and they need to do it TOMORROW FRIGGIN’ MORNING!
-Dave 
(h/t: My friend Earl)

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0 responses to “The Chicoms are Coming

  1. But Obama supports gay marriage! All is well in the world!
    Nothing to see, move along.
    Not holding my breath the repubs doing anything about this.

     
    • Not holding my breath the repubs doing anything about this.
      Neither am I, as lack of oxygen tends to be fatal.
      Worthless, traitorous RINOs all.
      I bet the Chicoms are going to start buying up banks that are on the brink of failing, too, and pretty soon the foothold they are about to have in the US banking industry is going to grow to be a menacing red shadow.
      This is just one more nail in our nation’s coffin.
      -Dave

       
  2. The government in Washington is communist, so I don’t see why you are so concerned. Obviously, a retail Chinese bank is a new thing, but if you look around your house, I’ll bet a lot of what you own was made in China.
    The government of Washington sold us all down the river many years ago.
    They have funded many of the wars and have instigated untold misery upon mankind.
    The Congress won’t stop it because they are communists themselves, they just don’t admit to it. I wish I was wrong, but I’m not. This is a sore spot with me as I once owned a small manufacturing company with up to 30 people at one time. And the little shit-faced commies in both the Democrap and Republishit parties sold our country down the toilet by allowing China tariff-free trade. Nixon was the jerk who “opened up” China. What a schmuck. Nixon was a commie all along. Clinton, with that dirtbag Gingrich pushed NAFTA when many of us were literally begging them not to vote for it. We the slaves don’t have a say in any of this. The vote is there to make us think we have a say, when the reality is that we don’t. The elections are just another dog and pony show. The elections give us a false hope. When these jerks get elected, they get into office and then stab us in the back. But don’t forget to sing the Star Spangled Banner!
    So, now we don’t have nearly as many factories we need to bring down the unemployment. Factories bring lots of jobs of all kinds, and with opening up China, WTO, and NAFTA we have a grand socialist economy that is going to fail big time. We will continue in our “depression” and it’s going to get much worse. I don’t know if it will get better. Since NAFTA the USA has lost over 42,000 factories.
    I was at the store the other day, and even the paper bags are made in China. They buy our recycled products and then give them right back to us in products. How dumb is that? Smart for the Chinese, dumb for America.
    But, but, don’t worry, Mitt the Magic Underwear will do his best to screw it all up some more if he gets elected.
    So while many Americans have become dysfunctional chasing sex, drugs, and rock n roll, the Chinese were actually doing some work. But, I like Chinese food anyway.
    Oh, wait till forced abortions come to your town. This is what happens when a nation falls asleep. The barbarians are at the gates. Maybe if Mitt waves is dirty Magic Underwear at the Chinese, they might go away.
    But at least you’ll be able to get a job at .29 cents per hour, a bunk, and a 60 hour plus workweek.
    I better quit before I say something offensive.

     
  3. The Top Three threats to National Security 
      
    The News Media is the number one threat to National Security. Dual Citizenship is the second threat to National Security. Foreign Owned Banks is the third threat to National Security. 
       

     
  4. Man I am so disturbed over this sinister turn of events. We are being swallowed by the dragon

     
  5. A foreign owned bank in our country is just like a mosquito. They will suck the life blood our of the population financially. If we ever have international agreements fail they can use leverage will the account holders. I could go on all day long about this danger.

     
  6. Hit your knees America! The one and only way outa this is prayer people!!!

     
  7. Throw away the ketchup folks, and break out the soy sauce. (Chinese food, actually, is my favorite food, but keep in mind the peasants only get white rice. LOL) In all seriousness, though, this is almost unbelievable. Twenty or fifty years ago it would have been unthinkable. This, my friends, is TREASON.

     
  8. Who said that this son of a whore wasn’t destroying America. The Bastard needs to be in Leavenworth, Kansas, for the rest of his worthless useless life! Giving part of Alaska to Russia should have put the Bastard in chains, What the Hell is this asshole Congress waiting on, waiting until he gives the rest of America to the muslums? Semper Fi.

     
  9. Just an accessory to their campaign financed
    commie/Alynski illeagal alien pResident…
    cheap commie food , commie slave labor dishes,clothes and
    shoes….have their price

     
  10. right sage. rumor has it if the US media would start reporting on it the big bankers are coming down along with alot of political figures and current politicians. They won’t have a choice but to report it here pretty soon.

     
  11. You are right on, Sage. It’s the sad truth.

     
  12. I see quislings at the helm. I won’t be surprised when there’s a military coup. I am already witnessing the beginnings of an “American Spring” ie. the “Occupy Movement” for all the world to see. Uncle Scam better watch his step with these folks and be careful not look like a hypocrite in the eyes of the world. This brash notion that Americans are just gonna roll over and be invaded from within is a pipedream doomed for failure. They just don’t have the “ass” to do it. There is no “omnipotent” power here or there to make it so. All I see is a “third world mentality” in operation here, and with that sort of mentality all you get is a “third world type soup sandwich” situation. True America Shall Prevail. Sua Sponte!

     

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