Lawmakers Stay Largely Silent Over Chinese Takeover Of US Bank Branches -- The HillU.S. lawmakers have been unusually silent about federal regulators' decision to allow a Chinese bank to take over 13 bank branches in New York and California, suggesting that they think American banks have much to gain.
Members of both parties usually relish the chance to bash China on everything from government subsidies to the yuan's exchange rate. Yet Wednesday's decision by the Federal Reserve to certify a Chinese bank acquisition for the first time was met by near-universal silence.
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My Comment: The Chinese are now through the door .... proving once again the old rule .... "he who has the gold makes the rules". Expect Chinese investment to increase appreciably in the next few years, followed by demands and "giving advice" on how the U.S. should conduct it's economic policy. Botton line .... this is not a good day for American sovereignty.
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