The Chinese sees the housing crisis from a different point of view: The US cheated China out of billions by selling them bonds backed up by inflated real estate

The Chinese sees the housing crisis from a different point of view: The US cheated China out of billions by selling them bonds backed up by inflated real estate, money saved up by hardworking Chinese. It's a completely different take on the situation. Someone had to provide the money in the first place. That someone sure as hell wasn't the banks, the banks were intermediaries. Often times that someone was a Chinese or German institution chasing higher interest rates with no clear understanding of what was being sold to them. Who benefited from the transaction? Whoever sold the home. A lot of foreign money came into the US and stayed in the US.