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China Credit Trust Co. mega default warning
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mchambuzi
#1 Posted : Monday, January 20, 2014 5:49:59 PM
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Joined: 11/17/2013
Posts: 80
Location: Juja
The bank issued a 31st January default warning to its investors. If it does materialize, its likely to send shocks into the market(Possibly globally as well with spikes in interest rates). In the likely event that the central authority averts this, isn't this one of the symptoms of an ailing credit system?
On a long enough timeline, the life expectancy of everyone drops to zero.
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jmbada
#2 Posted : Tuesday, January 21, 2014 7:55:27 AM
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Joined: 1/1/2011
Posts: 396
Let's temper the headlines. It's not a mega-default. It's approx. $600 Mill in only one of their wealth management products. And not a full wipe-out of investors' funds either. China Credit may still choose to make investors whole.
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mchambuzi
#3 Posted : Tuesday, January 21, 2014 1:45:35 PM
Rank: New-farer


Joined: 11/17/2013
Posts: 80
Location: Juja
jmbada wrote:
Let's temper the headlines. It's not a mega-default. It's approx. $600 Mill in only one of their wealth management products. And not a full wipe-out of investors' funds either. China Credit may still choose to make investors whole.


http://www.forbes.com/si...cheduled-for-january-31/
On a long enough timeline, the life expectancy of everyone drops to zero.
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