Chin fund says ‘No’ to Western American banks

Could the dread moment of turnabout many, many people have feared finally be coming true? China Investment Corp, the country’s sovereign wealth fund, will no longer invest in Western banks?

Well, possibly

Why? A perceived lack of stability.

“Right now we don’t have the courage to invest in financial institutions because we don’t know what problems we will put ourselves into,” Lou Jiwei said on Wednesday.

Actually, it’s not Westernbanks and erratic policies that bother China; it’s American ones.

Take THAT, Crazy Uncle Henry Paulson.

Speaking of that, Crazy Uncle Henry’s in Beijing as we speak. Probably getting his head handed to him on a Made in China platter.

And, Mr. President Shrub, you think you can “remind” Beijing of “flexibility” on the renmimbi?

HAH!