Our economy is slowly becoming a Chinese economy. The Chinese (and the UN via Agenda 21) would like to own or control a lot of property in the USA. We have no say in the matter. The Federal Reserve and the Obama administration has decided.
Read more http://thehill.com/blogs/global-affairs/asia-pacific/227035-lawmakers-largely-silent-on-chinese-takeover-of-us-bank-branches
Bruce
"(THE HILL) — U.S. lawmakers have been unusually silent about federal regulators’ decision to allow a Chinese bank to take over 13 bank branches in New York and California, suggesting that they think American banks have much to gain.
Members of both parties usually relish the chance to bash China on everything from government subsidies to the yuan’s exchange rate. Yet Wednesday’s decision by the Federal Reserve to certify a Chinese bank acquisition for the first time was met by near-universal silence.
Scott Talbott, the head lobbyist for the Financial Services Roundtable, said that’s unsurprising. The U.S. wants China to open up its financial services market – foreign ownership of Chinese banks is limited to 25 percent – and allowing a Chinese presence in the U.S. is seen as a necessary trade-off.
...
The decision came days after Treasury Secretary Tim Geithner met with top Chinese officials for annual talks in Beijing. China agreed during those talks to allow foreigners a greater stake in Chinese brokerage firms."
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