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Thursday, September 25, 2008


chinese banks to halt lending to US banks

there is a sea change afoot in the far east. compound these official directions with the publicly expressed fear of a panic and american debt default.

this is not the same as cutting off funding for, sya, treasuries. but given how china and others walked away from the agencies to precipitate their rescue, it has become dangerous to ignore the turning of spigots in china.

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