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China is simply making foreign investors do a shadow bailout of Evergrande. https://www.reuters.com/business/finance/blackrock-hsbc-among-largest-buyers-evergr
by runawaybottle 5y ago
China is simply making foreign investors do a shadow bailout of Evergrande.
https://www.reuters.com/business/finance/blackrock-hsbc-among-largest-buyers-evergrande-debt-morningstar-2021-09-21/ https://www.reuters.com/business/finance/blackrock-hsbc-amon...
They have been buying up these depressed bonds since January (that’s how long it’s been under the rug).
Cramer (not that I trust him) can pretty much tell you the gist of what’s happening:
https://youtu.be/Owa7c0TqyzU https://youtu.be/Owa7c0TqyzU
(Start at 50 seconds)
Cramer (paraphrasing): They will regret throwing our banks under the bus.
Local Chinese investors will get bailed out, but foreign investors will have to take the hit, as per China. Cost of doing business there.
- throwaway4good 5y agoIs Jim ok? Why is he yelling at his co-host for looking funny at him? I watched Jim Cramer a decade ago. I remember his Lehman rant but I consider him entertainment - you might as well watch Netflix or read hn.
- runawaybottle 5y agoI don’t take him seriously other than being a mouthpiece for the big banks in America. There’s a reason why he defended those banks in 2008, he’s connected. There’s a reason why he’s talking about them again here, which is weird because this whole thing about China. Ears open.