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[davidjinks]

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[montanadave]

They're financing our government. Why shouldn't they own a stake in our financial sector?

And, seriously, could they run a bank any worse than the guys we've got running them now?

Frankly, the more incestuous our financial enmeshment with the Chinese, the more incentive it provides for everybody to "make nice." At the end of the day, despite all our bitching and moaning about human rights, political ideologies, intellectual property theft, Taiwan, yadda, yadda, yadda, the bottom line is it's all about the Benjamins.

[Alric]

Is your solution to be more like China and dictate what foreign interests can own domestically, or shall we take a more American approach to the situation?

Allowing foreign investment is a practice that goes back a very long time.

[VooDoo6Actual]

redacted.

[NWPilgrim]

The Federal Reserve has loaned hundreds of billions to foreign banks and has bailed out foreign banks. Same with the nominally us banks, they have used bail out monies to prop up foreign banks. They have no national loyalty or interest other than what they can suck out of the consumer and taxpayers. When we used the full faith and credit of the United States to bail out banks for risky loans they chose to make, we abdicated any nominal oversight we might of had.

It is disturbing that a Chinese bank would be purchasing U.S. Bank, but that is just par for the course these days. Our politicians could care less where their campaign funds and free trips and goodies come from. Look at how much Chinese money went into the Clinton and Gore campaigns with nary a grumble. Sure, Wu, or whoever one of the coordinators were, was slapped, but no US politician was reprimanded or foreign company or power ostracized.

[davidjinks]

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[davidjinks]

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[Alric]

What else is foreign investment if not the purchasing of domestic assets or entities by a foreign individual or corporation? As far as I know, the term investment isn't limited to purchasing shares of companies.

The point was that if we are really serious about capitalism then you also accept that foreign entities can do business here up to and including purchasing domestic entities. Protectionism is usually associated with countries that don't have the same level of economic freedom we (supposedly) have.

[Grizzly16]

What else is foreign investment if not the purchasing of domestic assets or entities by a foreign individual or corporation? As far as I know, the term investment isn't limited to purchasing shares of companies.

The point was that if we are really serious about capitalism then you also accept that foreign entities can do business here up to and including purchasing domestic entities. Protectionism is usually associated with countries that don't have the same level of economic freedom we (supposedly) have.

If we accept that it is ok to regulate one US company from buying another US company to prevent monopolies because of the damage that can be done to citizens then I have zero problem saying we shouldn't let our biggest enemy (china) own anymore of our financial stability than they already do.

The US isn't pure capitalism and hasn't been for a long time if you define capitalism as always letting the money dictate what happens.

[davidjinks]

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[Moose-Knuckle]

“The few who could understand the system will either be so interested in its profits, or so dependent on its favors, that there will be no opposition from that class, while on the other hand, the great body of the people mentally incapable of comprehending the tremendous advantage that capital derives from the system, will bear its burdens without complaint, and perhaps without even suspecting that the system is inimical to their interests”. – John Sherman

[VooDoo6Actual]

redacted.

[davidjinks]

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[Ironman8]

What else is foreign investment if not the purchasing of domestic assets or entities by a foreign individual or corporation? As far as I know, the term investment isn't limited to purchasing shares of companies.

The point was that if we are really serious about capitalism then you also accept that foreign entities can do business here up to and including purchasing domestic entities. Protectionism is usually associated with countries that don't have the same level of economic freedom we (supposedly) have.

I'm not as read up and educated on these matters as HOP is, but to a "less read" person, a Chinese bank buying an American bank doesn't sound so bad as a singular event if you spin it as "capitalism at work". HOWEVER, with the current agendas that is actually being laid out by those who are carrying them out (IOW they aren't even trying to hide them!) and the direction of current events, this cannot be looked at as "business as usual". To do so is naive to the fullest extent. It doesn't take full knowledge of the intricacies of the situation to smell something is up.

[Jer]

I've had various accounts & loans w/USBank since 1994. I've been considering going to a local credit union anyway so this move just gives me that extra incentive I've needed to make the move. Sayanara suckers!

[Caeser25]

I'm not as read up and educated on these matters as HOP is, but to a "less read" person, a Chinese bank buying an American bank doesn't sound so bad as a singular event if you spin it as "capitalism at work". HOWEVER, with the current agendas that is actually being laid out by those who are carrying them out (IOW they aren't even trying to hide them!) and the direction of current events, this cannot be looked at as "business as usual". To do so is naive to the fullest extent. It doesn't take full knowledge of the intricacies of the situation to smell something is up.

And that's how we get sold down the river. They tell us straight to our face we're going to do something unamerican to save america :blink: and people believe it :alcoholic:

[Jer]

I've had various accounts & loans w/USBank since 1994. I've been considering going to a local credit union anyway so this move just gives me that extra incentive I've needed to make the move. Sayanara suckers!

D'oh, upon further review I see that they bought out a US Bank. Not US Bank. BIG difference.