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China Insolvency Wave Begins As Nation's Biggest Provincal Borrowers "Defer" Loan Payments
Remember, back in the day, when a bankruptcy was simply called a bankruptcy? Naturally, this was well before ISDA came on the scene and footnoted the living feces out of everything by claiming that a bankruptcy is never a bankruptcy, as long as the creditors agree to 99.999% losses at gunpoint, with electrodes strapped to their testicles, submerged in a tank full of rabid piranhas, it they just sign a piece of paper (preferably in their own blood) saying the vaseline-free gang abuse was consensual. Well, now we learn that as the global insolvency wave finally moves to China, a bankruptcy is now called something even ... (full story)
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- Dec 26, 2011 2:25am Dec 26, 2011 2:25am
- yevhen99
- | Joined Dec 2010 | Status: Member | 11 Comments
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- Dec 26, 2011 3:17am Dec 26, 2011 3:17am
- McNish
- | Joined Aug 2011 | Status: Money Tree | 17 Comments
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