China asks local lenders not to lend to U.S. banks

[Joanne98]

China asks local lenders not to lend to U.S. banks:report

By V. Phani Kumar

Last update: 10:28 p.m. EDT Sept. 24, 2008

HONG KONG (MarketWatch) -- Chinese regulators have asked domestic banks to stop lending to U.S. financial institutions in the interbank money markets to prevent possible losses during the financial crisis, the South China Morning Post reported Thursday. The China Banking Regulatory Commission's ban on interbank lending of all currencies applied to U.S. banks, but not to lenders from other countries, the report added, citing a source.

http://www.marketwatch.com/news/story/china-asks-local-lenders-not/story.aspx?guid=%7B389CCD2E-9D08-4A8B-A512-F1B3E0B0BE19%7D

[rosesaylavee]

1. Fine.

Hopefully we will be able to repay the 'favor' some day.

[Critters2]

2. I thought this was debunked last night. nt

[Mojorabbit]

3. It was

but I am not sure whether I believe the denial.

[lapfog_1]

5. Reuters published the first one.

And I doubt they print "junk stories"... so it was sourced and confirmed.

That it was later denied by the Chinese government doesn't mean it didn't happen, just that they "changed their mind".

My guess it was a warning shot to let Washington know that they expect the bailout deal to be done and done soon.

[lapfog_1]

4. This story was on Reuters last night (our time)

And was denied by the Chinese government about 30 minutes after it hit the wire.

[madrchsod]

6. no wonder walmart wanted to go into commercial banking

those guys did`t trust wall street either