15.10.2008 - US taxpayers to bail out Chinese SWF?
From HNN: It may be hard to believe but the WSJ reports that Chinese sovereign wealth fund - China Investment Corp., "has applied to participate in the U.S. Treasury's temporary guarantee program for money-market funds." This at a time when Bloomberg reports that "China's foreign-exchange reserves rose to a world record $1.906 trillion, helping to strengthen the nation's finances as the credit crisis threatens to trigger a global economic slump." If anyone sane is still minding the store at treasury, they will decline the application. .... Full Article: Source
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