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Title: Wikileaks..."China Said To Use Debt To Press US" Post by: WhiskeyGirl on February 25, 2011, 08:01:17 PM Quote During the U.S. financial crisis, Chinese officials used their status as America's largest creditor to press U.S. officials, including Treasury Secretary Timothy Geithner, for political favors, and at one point shifted their U.S. portfolio away from longer-term Treasurys -- helping drive up U.S. long-term borrowing costs, Reuters reported Thursday on its website, citing U.S. diplomatic cables obtained by WikiLeaks. Quote In one instance, the cables assert that the head of China's sovereign wealth fund met with Geithner in June 2009 and that the Chinese official requested that the Treasury secretary press the Federal Reserve to speed up approval of the fund's $1.2 billion investment in Morgan Stanley (MS). There was no disclosure in the cables of any action Geithner may have taken, although the investment was announced the next day, Reuters reported... read more here - http://www.automatedtrader.net/real-time-dow-jones/47582/amid-financial-crisis--china-said-to-use-debt-to-press-us-_reuters (http://www.automatedtrader.net/real-time-dow-jones/47582/amid-financial-crisis--china-said-to-use-debt-to-press-us-_reuters) Anyone think China manipulates it's currency and Washington looks the other way? Anyone think Americans can expect jobs to grow in the U.S.? Tomorrow will be a better life for Americans? |