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...Chinese government has become more aggressive about buying foreign assets. Chinese leaders recently said they would begin to make investments in Europe through their sovereign wealth fund. The country has capital available to buy assets driven down by the recession...
China then has the oil to provide fuel for automobiles, the metal to build them and the country seems to be ready to shop for car companies. According to Reuters, the chief of China's large Chongqing Changan Auto Co. is prepared to take a vulture-fund approach to buying assets. He said, "The longer the crisis lasts, the bigger the chance of failure or a scale-down of some American and European automakers." It is a brutal but honest assessment of the industry, and a clear and public sign that China believe that "money talks...
...international institutions held a global popularity contest, there's little doubt the International Monetary Fund would finish last. Over the past 30 years, the Washington-based agency has aroused fear and loathing throughout much of Africa, Asia and Latin America because of the tough conditions it imposed on governments as the price for its financial assistance. When its role dwindled to near-irrelevance earlier this decade as the world economy expanded strongly, few tears were shed. Taking over as managing director in 2007, Frenchman Dominique Strauss-Kahn warned its directors that, "what might be at stake today is the very...
...executive at the firm during the time the alleged misdeeds took place and reportedly may have met with those accused of criminal activity. Details remain scant, but the case involves payments to people who helped make business connections between Rattner's firm and the New York State pension fund. The Obama Administration claims it was aware of the pending investigation when it appointed Rattner. (See 25 People to Blame for the Financial Crisis...
...superstar." - Orin Kramer, an Obama fundraiser and hedge fund manager, on Rattner, New York Times, April...