Angry Chinese Investors Capture Head Of Metals Exchange In Predawn Hotel Raid

[dixiegrrrrl]

the head of Fanya Metals Exchange and he was captured in a daring predawn raid in Shanghai on Saturday.
Fanya is a forum for trading minor metals like indium and bismuth that has also functioned as a shadow banking conduit — not only leveraging metal deposited with the exchange as collateral for loans, but offering high interest investment products to retail investors."

in the event investors are forced to take losses, "the key issue is what those investors will do next."



Well, now we know.

First they will stage angry protests and then, if their money is not returned to them in about a month, they will travel from all corners of the country, stake out a hotel, kidnap the issuer of the WMP and haul him away to jail. in the event investors are forced to take losses, "the key issue is what those investors will do next."

http://www.zerohedge.com/news/2015-08-23/angry-chinese-investors-capture-head-metals-exchange-predawn-hotel-raid

[elleng]

1. Heckuva way for global economy to work!

NOT looking forward to this week in the markets.

[dixiegrrrrl]

2. Maybe if that had happened here in 2008.............

just musing................

[Ghost Dog]

5. Indeed...

[Erich Bloodaxe BSN]

3. Not quite as bad as it seems from the OP.

The head of a Chinese exchange that trades minor metals was captured by angry investors in a dawn raid and turned over to Shanghai police, as the investors attempted to force the authorities to investigate why their funds have been frozen.

So they didn't kidnap him, kill him, whatever. They performed what might be considered a citizen's arrest, immediately turning him over to police.

[Frustratedlady]

4. Those people don't mess around when they are angry, so I would be very concerned...

if I were involved in investing their funds.

On the other hand, perhaps their American counterparts might take notice. Doesn't seem as though the US government will be aggressive on any WallStreet transgressions, so they'd best hope the people don't get ideas and take to the streets. Just sayin'.