China banks told to stop lending to US Banks - SCMP

[lonestarnot]

Wed Sep 24, 2008 9:52pm EDT

BEIJING, Sept 25 (Reuters) - Chinese regulators have told domestic banks to stop interbank lending to U.S. financial institutions to prevent possible losses during the financial crisis, the South China Morning Post reported on Thursday.

The Hong Kong newspaper cited unidentified industry sources as saying the instruction from the China Banking Regulatory Commission (CBRC) applied to interbank lending of all currencies to U.S. banks but not to banks from other countries.

"The decree appears to be Beijing's first attempt to erect defences against the deepening U.S. financial meltdown after the mainland's major lenders reported billions of U.S. dollars in exposure to the credit crisis," the SCMP said.

http://www.reuters.com/article/email/idUSPEK16693720080925

[AndyA]

1. Where will Bush and the Republicans get their fix now that the cash flow has been severed?

They are like drug addicts, always looking for the next infusion of cash. I hope their withdrawal symptoms are severe, and I hope they spend the rest of their lives paying for the abuses they've done while in office.

[shadowknows69]

2. Us, 700 Billion coming up later today.

[lonestarnot]

3. They will just print more.

M3 publication gone the way of Kanochi.

[ihavenobias]

4. Wow, K & R, this is huge n/t