Chinese Government Engineers A Bear Stearns Style Bailout of Bank of Jinzhou

• WallStForMainSt Streamed live on Jul 29, 2019
  On Sunday it was announced that Bank of Jinzhou would receive strategic investment (a bailout) from 3 state-controlled financial institutions who said they would take at least 17.3% in the troubled lender. Chinese Bank With $100 Billion In Assets Is Bailed Out: 
  –
  https://www.zerohedge.com/news/2019-0…
  –
  Industrial and Commercial Bank of China (ICBC), the country’s largest lender by assets, China Cinda Asset Management and China Great Wall Asset Management, two of China’s four largest distressed debt managers, said on Sunday they would take stakes in Bank of Jinzhou, Reuters reports. “For Baoshang Bank, the government took a state takeover, while for Bank of Jinzhou, the government introduced some state-owned strategic investors,” said Dai Zhifeng, analyst with Zhongtai Securities Co; in reality both were government rescues, only in the latest case Beijing used state-owned bank intermediaries. China’s CCB to give $291 billion in financing support (bailout) to Hunan province:
  –
  https://mobile.reuters.com/article/am…

end