theeohiostate Posted December 13, 2008 Share Posted December 13, 2008 (edited) We were told this money was to save our financial system. We were told this money would relax lending practices. We were told this money was for the good of the American people , our economy and our business. Bank of America has decided , since government made no stipulations on how to use the funds, to go ahead and use 7 Billion of our tax dollars to invest in China Construction. Like many of you, I too and tickled pink seeing even more of my money end up in communist China. To think, I'm paying to have a nuke with my name on it ! Bank of America Corp has completed a call option exercise, taking an additional 19.58 bln H-shares in China Construction Bank Corp (CCB) (SHA 601939; HK 0939) from Central Huijin, the investment arm of sovereign wealth fund China Investment Corp, CCB said. In a statement filed with the Shanghai Stock Exchange, the Chinese bank said all H-shares in the deal were transferred to Bank of America on Nov 28, raising the US bank's ownership in CCB to 19.13 pct from 10.75 pct. Bank of America has committed to a holding period running to Aug 29, 2011, during which it cannot transfer the shares without CCB consent. Edited December 13, 2008 by theeohiostate Quote Link to comment Share on other sites More sharing options...
WaterMan Posted December 13, 2008 Share Posted December 13, 2008 Let this be a lesson kids, just because something has Freedom or America in the title, does not make it a good thing. Quote Link to comment Share on other sites More sharing options...
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