<html><body><p>What <a href="https://quotes.tuteehub.com/tag/people-24" style="font-weight:bold;" target="_blank" title="Click to read more quotes about PEOPLE">PEOPLE</a> don't realize is that China papered over its last two credit bubbles, those in 1999 and 2004. The <a href="https://quotes.tuteehub.com/tag/banks-4488" style="font-weight:bold;" target="_blank" title="Click to read more quotes about BANKS">BANKS</a> were <a href="https://quotes.tuteehub.com/tag/never-330" style="font-weight:bold;" target="_blank" title="Click to read more quotes about NEVER">NEVER</a> bailed out - they just exchanged their <a href="https://quotes.tuteehub.com/tag/bad-68" style="font-weight:bold;" target="_blank" title="Click to read more quotes about BAD">BAD</a> loans for questionable bonds from quasi-state organizations.</p></body></html>

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What PEOPLE don't realize is that China papered over its last two credit bubbles, those in 1999 and 2004. The BANKS were NEVER bailed out - they just exchanged their BAD loans for questionable bonds from quasi-state organizations.

Author - James Chanos Subject - Finance

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What PEOPLE don't realize is that China papered over its last two credit bubbles, those in 1999 and 2004. The BANKS were NEVER bailed out - they just exchanged their BAD loans for questionable bonds from quasi-state organizations.

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What PEOPLE don't realize is that China papered over its last two credit bubbles, those in 1999 and 2004. The BANKS were NEVER bailed out - they just exchanged their BAD loans for questionable bonds from quasi-state organizations.

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