Blog: Spirit of Money, Financial Fluidity
by munificent

World Bank; China/Enron

38 Billion? The World Bank is at it again...Boy, they are probably the One World Government that we hear so much about...If one took a look at the board members of this bank...One might see "whose who" in international dominance and ownership...I think I'll try it!

Date:   10/10/2005 6:52:41 PM   ( 16 y ) ... viewed 1316 times

FINANCE
China as Enron
That title's definitely a stretch, but I'll go with it anyway. Because I just got back from a press briefing on M&A in China, where Ko-Yung Tung, a senior counselor of the law firm of Morrison & Foerster, made a startling statement in his introductory remarks. (At least it was startling to me.)

Tung mentioned that when he was a vice president and general counsel of the World Bank a few years ago and China came knocking on its door, the bank soon deemed it necessary to find a way around its absolute dollar limit of $13.5 billion in total lending to any individual nation. Tung said that finding a route around the limit took "a lot of engineering," but engineer he and his colleagues did, such that the amount of commitments to the country by the World Bank now total some $38 billion.


True, commitments aren't the same thing as actual loan exposure. And maybe that difference accounts for the additional $24.5 billion. But Tung clearly implied that the bank has found a way to lend considerably more than $13.5 billion. Unfortunately, he didn't explain how the engineering was done, and wouldn't elaborate when I buttonholed him on the dais afterward, explaining that he wasn't sure that information had been made public. Still, he did say it took "some fancy footwork," which makes me think it had to involve more than the difference between actual loans and commitments.


So that leaves me wondering if it involved the World Bank's equivalent of an SPE. And if you think the title's still a stretch, consider this statement in light of the piece that Abe de Ramos wrote for our special issue on banking and finance, wherein he describes how Western banks are buying stakes in Chinese ones now that the government has bailed them out of their bad loans. Abe (who pronounces his name "Ah-bay") writes that what China wants from the deals is for its banks to learn the risk management practices of Western banks. And we all know what that means. (Want more details? Our special banking and finance issue will be posted on CFO.com on October 15.)


Add This Entry To Your CureZone Favorites!

Print this page
Email this page
DISCLAIMER / WARNING   Alert Webmaster


CureZone Newsletter is distributed in partnership with https://www.netatlantic.com


Contact Us - Advertise - Stats

Copyright 1999 - 2021  curezone.com

0.096 sec, (2)

Back to blog!
 
Add Blog To Favorites!
 
Add This Entry To Favorites!

Comments (15 of 48):
Thanks for your in… kermi… 15 y
I wonder about wom… 9thbo… 15 y
everybody knows... drofin… 15 y
Taiwan/China Next? Rikki-… 15 y
I am sorry to hear… 9thbo… 16 y
Re: I have a retir… #4933… 16 y
Nope, I don't make… 9thbo… 16 y
commercial pitch mark777 16 y
oh well... drofinnah 16 y
Yes this may well … kermi… 16 y
First hand experie… 9thbo… 16 y
Depends on age/ris… 9thbo… 16 y
10% of portfolio i… #1923… 16 y
Hi K-! Hope all i… 9thbo… 16 y
WOW who would thin… kermi… 16 y
All Comments (48)

Blog Entries (12 of 249):
World Bank; China/Enron  16 y
Congressional Pay Poll  16 y
Happiness  16 y
Greenspan's Replacement  16 y
BCCI- Still and Again  16 y
John's Opinion  16 y
How to lose it ALL  16 y
NonQual deferred Comp under …  16 y
Civil War Balance Sheet?  16 y
Dubai- New Hong Kong?  16 y
Closely Held Businesses  16 y
Faking Katrina Inquiry  16 y
All Entries (249)

Blogs by munificent (10):
Yoga Path  15 y  (396)
Cold Water Blog  15 y  (269)
Quantum Intelligensia  15 y  (267)
Leadership  15 y  (67)
BaBaGee Blog  15 y  (16)
Breathwork  16 y  (16)
Desire  15 y  (5)
Sacred Sex  15 y  (4)
Apothegm  15 y  (3)
Breathwork for wholeness  16 y  (3)

Similar Blogs (10 of 185):
My Unusual Road of …  by kerminator  5 h
Absolute Truth Some…  by Kerminator  19 d
Chef Jemichel ~ The…  by chef jem  73 d
Advices and tips on…  by Law Offices  75 d
Manifestation Magic…  by magic44  4 mon
David Sanderson’ Ul…  by manifestation11  8 mon
Five steps on how t…  by drawmoney7  8 mon
willson 456  by kaviharshu99  10 mon
Mobile Notary  by mobile-notary  14 mon
asinglemomstory  by loknathtechtro  16 mon
All Blogs (1,019)

Back to blog!
 

Kidney Stones Remedy
Hulda Clark Cleanses



Lugol’s Iodine Free S&H
J.Crow’s® Lugol’s Iodine Solution. Restore lost reserves.



Your Ad Here
Place your ad here !



Natural, Soothing, Progesterone Oil
Supplementation and Hormone Balancing Based on the...