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Yes Indeed today It is posted from Wall Street that Morgan Stanley has made an agreement to sell $5 BILLION dollars of their large Wall Street firm to CHINA.
This is 9.9 of the firms value. The article goes on to say this is only one example of how the housing melt-down is causing more and more sell-off of American assets to other countries. How far will this go?Terry From Texas
This is just one of MANY US firms that have accepted ENORMOUS investments from foreign entities.
From Business Week magazine [ http://www.businessweek.com/investor/content/dec2007/pi20071218_754802.htm?chan=top+news_top+news+index_top+story ]
“In these days of distress for large banks, hot money is showing up from all over the world, as if there’s a Black Friday sale on financial firms. No sooner had Swiss giant UBS (UBS) announced $10 billion in subprime writedowns than Singapore’s state investment fund and an unnamed Middle Eastern investor appeared with $11.5 billion to buy a 9% stake in the bank. Citigroup (C), racked by a cash squeeze in its structured investment funds, received a similar infusion of $7.5 billion from Abu Dhabi last month. The emirate’s sovereign wealth fund could wind up with a nearly 5% stake (BusinessWeek.com, 11/27/07) in the bank.”
Scott Oliver – Founder
WeLoveCostaRica.comMoney doesn’t care about national borders so much, huh? How much increase in foreign investment has there been in Costa Rica in the last 7 years?
Unless you still naively believe that as a U.S. citizen, you have a say in the direction your country is headed, this latest turn has no significance at all.Sprite: You, of course, are right. I guess what makes me upset is the reason that the money is flowing in….our stupidity and Greed that ends up placing us in the bad postion we are in. Maybe if someone like Ron Paul were to get elected (which is a very long shot) we might have a chance of reversing some of the Huge waste and government pork-belly programs. Plus of course decrease many of the programs that the government should not be ivolved. They say size does make a difference, however Bigger is Definately not better in the subject of Government
I am more worried about lack of control than too much control. Somebody has to keep an eye on corporations. Corporations have no morals whatsoever. The same could be said about many governments but at least the good of the people is in the charter of governments. Corporations exist only for one purpose and it has little to do with the common good.
So what about Costa Rica, are they sold out too? I beleave they have sold out to China and the Gringos!
I remember when I was a kid….it’s been a while…we laughed at things that were “Made in Japan”….they were crap, the cars , the toys, everything we bought over here was inferior….but they were cheap….now it’s China…I wouldn’t buy a car, or motocycle, or anything of any importance from this country….but wait 10 years, or maybe 5….and they will be a force to be reckoned with…..you think Japan did the turn-a-round ? Again….China is going to be a major exporter of some “quality” goods at considerably less $…..at this time, I’m trying not to buy anything Chinese….but, Damn….it’s hard..
China is manufacturing knock-off BMWs!! So typical — they knock-off everything, and it’s really poor quality on top of that.
Maravilla, in Costa Rica some friends found M&M knock offs and I would bet they were from China! I really would have never thought that was on the “knock-off” list, but I guess candy is a lucrative business these days. The thought of it is hilarious although I seriously would not suggest ingesting those little colored candy imitations considering all the toxins associated with painted items coming from China…Oye!
Sprite, you would really rather have the government controlling everything, even more than they do now?
The nice thing about a free market economy is that consumers can “elect” where to spend their money every day rather than waiting 2,4 or 6 years to elect representatives that rarely act completely in the best interest of the contingency. Thanks, but I will take my chances with the Ron Paul crowd as well.
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