Morgan Stanley announced a $5 billion investment from China's government-constrolled investment vehicle to help replenish its financial capital. Bear Stearns agreed to a $ 1 billion investment from China's Citic Securities. My comment: Citic was started by Yong,former VP,a graduate of St.John's University,1937 as a patriotic capitalist.
On page D1: Treasury chief Henry Paulson, Jr. saw the fund as a stabilizing force since such plan is designed to stabilize a vital segment of the credit markets.
The strategy called for banks across the globe to create a $100 billion fund aimed at jump-starting the troubled market for short-term loans,acting like a credit card for firms. My comment with light humor: It is all paper-created endeavor with faith and credit of the nations as honored by institutions and folks in the world for economic globalization. Henry Paulson Jr.is to be credited as a Credit Magnet with smart moves to solve financial problems with finesse. I salute him with kudos since he envisions the benefits of Sino-American Economics. Francis Shieh a.k.a. Xie Shihao,a lifelong student of economics witnessing the nature of economics in all shades and colors for human operations with financial enjoyment in the 21st century and beyond ad infinitum.
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