Read more about Huarong in reporting by Bloomberg's Rebecca Choong Wilkins: www.bloomberg.com/authors/AT8YdRfOdJk/rebecca-choong-wilkins

@dragon.fromindia3235

3 жыл бұрын

SELL GOLD IT HELPS. GOLD PRICE WILL SHORT FALL

Bad money management and corruption by Bankers? *Surprised Pikachu Face*

@davidchou1675

3 жыл бұрын

No: Bankster *executed* for corruption??? *Happy Pikachu Face!!*

@tomlxyz

3 жыл бұрын

@@davidchou1675 I'd say he's the scapegoat and many others involved got away unharmed

ive been waiting for a quick take on china's bad debt managers for months !!

@apvial

3 жыл бұрын

I'm surprised it even happened. Bloomberg loves the ccp

When you need weekly reminders of how a company is running normally, it is not running normally.

@tomlxyz

3 жыл бұрын

A bad bank isn't exactly normal business

Sentenced to death, sheesh. Imagine if this happened in the US, hmmmmmmm

@shancunma6001

3 жыл бұрын

They’re not America, so it’s not surprising.

@AdrianDucao

3 жыл бұрын

@@shancunma6001 They're not in America or They're not American...

@shancunma6001

3 жыл бұрын

@@AdrianDucao They, as a country made of people, I refer to them as “they”.

@AdrianDucao

3 жыл бұрын

@@shancunma6001 i am an apache helicopter and you should address me as such

@gidd

3 жыл бұрын

@dennis estrada The US is backwards too in terms of infrastructure and public facilities

Capital punishment for corruption, that's serious

@pondeify

3 жыл бұрын

it's theft on a massive scale, it's the only way to control greedy bankers - other countries should learn from China

@shazmosushi

3 жыл бұрын

Capital punishment is not justice, it's revenge. It's such a barbaric and medieval practice. No matter how heinous the crime, the maximum penalty should be life in prison. It's very sad that so many countries still have capital punishment.

@azmodanpc

3 жыл бұрын

Then again, theft, corruption and embezzlement is so massive and pervasive in China, it's more probable the guy ran afoul of the CCP higher ups and decided to make him the scapegoat.

@seanlee3863

3 жыл бұрын

@@shazmosushi no, it's justice. When you ruin countless people's lives, your life becomes worthless, when you take other people's lives intentionally, your life becomes worthless, people shouldn't have to pay and fiance his stay in jail as even a prisoner still need to fed, bed and managed and the cost of that falls onto the public. I'm fully for capital punishment because those who ruined other people's lives already signed their lives away.... including pedophiles, murderers, large scale scam artist (like these bankers and so)

@magicmagus1459

3 жыл бұрын

If anyone other than bots are reading this, note that ccp and corruption are ONE and the SAME. If china ever arrests a high ranking official for corruption, it is usually used as guise to cover the real reason which is usually some form of dissent/ bad action towards the ccp.

So what’s wrong with cracking down on corruption??

@cf3985

3 жыл бұрын

@dennis estrada and what does America do?

@r3dpowel796

3 жыл бұрын

@dennis estrada xi does not have opposition he is the most powerful political influence in the sphere of China politics for life..

@r3dpowel796

3 жыл бұрын

@dennis estrada sounds like you are scared.

@Luis_Ah_Hoy

3 жыл бұрын

@dennis estrada , just like the American politicians/leaders, who push to the downfall of US... by colluding and protecting financial criminals who run big banks?

@noeswantra2295

3 жыл бұрын

@@Luis_Ah_Hoy Any better argument than always doing a "what about the US"? I'm an Asian living in Asia, and I also hate the US govt. But if pro-Chinese ppl on the internet only resort to "But US did it too" it's very hard for us to actually then believe in the Chinese systems and project. We need more than just comparing China and US. Smh

Executed, wow. I wonder how many went to jail for 2008. I believe it's 1 mid level exec.

@haoruchen4216

3 жыл бұрын

astonishing!

@anuradhanunna

3 жыл бұрын

*surprised pikachu face*

@kimberlycrichton2932

3 жыл бұрын

Obama Justice Department did nothing & all the bad actors got bailouts. Ry Cooder has a song, “No banker left behind.” It’s about how they all went to Washington DC

@letsburn00

3 жыл бұрын

The US sued one, judges and juries threw it out and the US gov had to pay their lawyers. The gov basically found out that juries can be conned by bankers lawyers and it was just a way to lose money.

@samsonsoturian6013

3 жыл бұрын

The Housing Bubble didn't involve corruption.

This is why i subscribed for videos like this 👌🏻👌🏻

They really iced a homie over financial gain 🖤

@myczxr

3 жыл бұрын

rip

@Dubs22005

3 жыл бұрын

prolly just on the wrong side of the ccp prolly didnt even really die

@stephenwest2

2 жыл бұрын

Corrupt bankers should be hanged.

@Dubs22005

2 жыл бұрын

@@stephenwest2 make sure you get all of them then

Fraud in China : Sentenced to Death Fraud In India : Welcome to Antigua

@ProfAzimov

Жыл бұрын

Its selectivly punished

Skeleton is finally out of the closet.

Best video ever made about China Huarong.

Goldman Sachs and Blackrock paid for this video to be made

Sentenced to death??

@Steven-xf8mz

3 жыл бұрын

yes, death sentence. In the US we do millions of dollar settlement and write it off as one time expense on the book, and China do death sentences. it's not surprising why democracy hates authoritarian regime. Under 1 party system, there is actually a group of people that can punish the elite whereas under a democracy the elite get to interpret the laws that fit their need.

@monarch3724

3 жыл бұрын

@@Steven-xf8mz in autocracy the elite run the govt. These are state owned companies, run by govt people.

@dracoii1147

3 жыл бұрын

@@Steven-xf8mz this might be the dumbest take 1.cpc members are rich 2.its illegal to scam ppl and you will go to jail 3.democracy means what the people want unlike authoritarian regimes a small group of old men dictate what they want for you without the people's opinion

@Steven-xf8mz

3 жыл бұрын

@@monarch3724 yes but in reality under any system of governance, it's the same group that run the entire system. In the US, we got lobbyist become regulators, federal bank officials become consultants and bankers, etc. both systems are ran by a group of elites, the only difference in punishment is one is willing to do more than hand slip and summon to DC for an apology.

@Steven-xf8mz

3 жыл бұрын

@@dracoii1147 the elites on both countries are rich. under either system it's a group of people that control the entire system. did anyone important from 08 go to jail, or did WF ceo go to jail in the recent financial fraud? if you're able to see beyond the biased lens, you'll notice there is fundamentally nothing different in either financial system other than the penality. well i forgot to add this, thank you for sharing your stupid thoughts too. lol. it's not that hard to insult someone on youtube, in fact it doesn't take much effort. if you want to go back to having a conversation without insults let me know, or you can continue what you started and i can continue mine as well. lol

They should have just give a 20billion$ bailout like USA did.

@airrick2big18

3 жыл бұрын

They don’t have because they already do

@apvial

3 жыл бұрын

@@airrick2big18 Correct. China is constantly bailing out its banks

@1SuperTempest

3 жыл бұрын

@@apvial bailing out their banks and panicking that American companies are coming to flood their markets.

@apvial

3 жыл бұрын

@@1SuperTempest IMO Americans should let the economy and the regime collapse first, it would be wiser

@wumaobot

3 жыл бұрын

US is f@cking corrupt country

A typical corruption(even a remarkably rampant one) does not usually end up with death panalty. In a country where all courts and medias are tightly controlled by states, announced crimes and amount of venality are carefully considered and propagated. If you are still being a “comrade” of the party, procecutors will only sue the offences and amount of curruption commensurate to the predesignated punishments. While if unfortunitely being in opposide situation, becausue of political issue, you would become an example of “relentless anti-corruption campaign”. For Lai Xiaoming in particular, is the most unlucky one. Agrresive moves and expansion of Huarong is not unique in Chna, CDB and some other finacial instruments (eg, Baoshang Bank, AB insurance) had a period of time dipping themselves into realm of high volatilzing market. And outcome of those officers in charge are different of Lai.

@agaragar21

3 жыл бұрын

The communist party will destroy China.....its only a matter of time

@momoware

2 жыл бұрын

@@agaragar21 Most governments destroyed their countries in history. We haven't seen a government that beat the Romans yet.

@KNByam

2 жыл бұрын

Death penalty for corruption, way too harsh.

Wow Quicktake is now in 4K ❤️

I love her accent so much

Investors and bank account holders need to have a run on the bank

Bad debts managers cannot handled its own bad debts ...The state owned banks are trading below way below book values for a "bad" reason too.

Thanks

What's crazy is that they were in the biggest credit benchmarks

that's tough man

this is the guy with 100 mistresses

@MrChenjinyuan

2 жыл бұрын

That's why he needed the money😢

I was wondering why started to notice this topic?

Ya, ok, but who was consolidating power by killing him?

@eminkirac4712

3 жыл бұрын

In the US he would’ve gotten a pad on the back and a MOvie made about him where he got royalties. I mean it seems like killing people like him scares more people of doing the same than no consequences at all

@nsebast

3 жыл бұрын

Dont worry China does not tolerate obvious corruption and mismanagement. Not even Xi Jinping himself can escape obvious corruption and mismanagement. In US, you get bailed out, a slap on the hand then that crook will be back in business a few years later.

@anerdwitdacamera204

3 жыл бұрын

Always Xi

@eden5260

3 жыл бұрын

@@nsebast are you aware of the magnitude of corruption that is apparent in china or you just prefer to live in a propaganda dream

@markcornelius5291

3 жыл бұрын

@@nsebast This has to be a joke

You guy's are doing some wonderful stuff, appreciated 👏.

bad bank itself became bad

The thumbnail looks like the average calls investor's portfolio

In August it was reported they lost almost 19 B

In this game, you can only lose more than you can afford, and winning is near impossible

Sounds like China's version of Deutsche bank.

Great way to get rid of powerful competition

2:39 ...why did they zoom in on the guy typing in what presumably was his pin? like, what was the point of it?

Any business, bank, company, any sort of business venture that’s Chinese or Chinese affiliated is 99% going to be a risky bet. Just save your money.

@incarnation151

3 жыл бұрын

Anything Chinese state owned is actually usually going to be quite safe because at least they are never going to default. As for the private firms, they are going to be a little riskier than their counterparts in, let’s say, the US but the potential gains are also massive. Investors can’t just make safe bets, they need to put a little money in the risky bets for when they bet right, they are going to be rich real fast.

@gasun1274

2 жыл бұрын

@@incarnation151an institution that never defaults is only a small piece of your next investment decision

@davidortiz3094

2 жыл бұрын

@@incarnation151 Total bs

Indonesia is the next nation that adopted capital punishment for bribery. Will see the reform and how it's going to play out.

They just sentence mofos to death out there.

wanna hear a joke? China

she sounds exactly like Liam from bloomberg, same accent

One word. RUN

The owner of huarong might've read a lot of chinese webnovels lol

he's so brave knowing that when you're convicted of corruption you're gonna lose your life.

@swinebrew811

3 жыл бұрын

Many who were convicted of corruption got life-long imprisonment, and those that were sentenced to death were often commuted to life-long imprisonment, and eventually, if they act well in jail, they could be released after 20 years or so. So I'd say the guy did not know he would die when he was being interviewed, and the final sentence might be a bit of a surprise for him.

What happens to the people that pay the bribes?

@azmodanpc

3 жыл бұрын

Can't catch them all. They number in the millions. It's the way the business is run in China and most other countries too. The weird thing is that he's being made an example of. Perhaps he ran afoul of Xi and his followers.

I doubt they'll pay

Don't you feel how sickening it is to see what money can do on people? Go live on with your lies, karma awaits you.

But executed means killed?

They monetize the debt every time. Due to technical deflation the system can never collapse due to liquidity. Only way for the to collapse system now is to halt it completely. Second best way is cyber pandemic.

@deepdude4719

2 жыл бұрын

What do you mean by cyber pandemic?

@HemantPandey123

2 жыл бұрын

@@deepdude4719 Cyber attack on supply chains and end of anonymous login.

You sure they got the right person

they didnt say how they made money before expansion.

Last month was evergrand this month is this bank. I wonder what next.

White collar crime rarely get death penalty

Ambitions are trap many times.

In the US he would have gotten a bail out and performance bonus

Evergrande is $300b

Well it just got bailed out

Business card said Executive Banker…. NOT Execute Banker …… oh man-bad translation My bad.

What idiot would buy bonds of a bad “bank”? And.a China one?

Bgm is just annoying

That's karma,

Huarong is trying to make it right eh?

To save the Bad Bank a new institution called Worse Bank will be created and to save the latter The Worst Bank .

I'm sorry did you say executed?????

Black Rock. Lol.

Has anyone noticed that Bloomberg has become completely obsessed with China lately?

@apocfaildotorg

3 жыл бұрын

I mean, it’s a pretty important country that is aggressively growing/flexing its muscles, be it militarily, socially, politically or financially. Also, China is an interesting place and not many laymen understand how it functions. Nobody really talks about china’s horrible debt management, so it’s worth discussing.

@LTEAndroid

3 жыл бұрын

@@apocfaildotorg well said!

@Crake13

3 жыл бұрын

@@apocfaildotorg If you're genuinely interested in learning more about China, I would not recommend this video series by Bloomberg. I have watched a bunch of them, and they have all been extremely biased... like to the extent that in the video about the 3 child policy, every 30 seconds they would invert the colours to make it feel like a horror movie.

@flx4305

3 жыл бұрын

Well Bloomber is a business centered news outlet. China is the second-largest economy in the world and developing at a rapid pace. I'll let you join the two.

@0dyss3us51

3 жыл бұрын

Because they grew big in the us and overinvested in the Reds and are now getting squeezed on both sides haha. They have no spine and are in denial when it comes to the nature of the reds.

Whahahahahaha, this is not gonna aged well come monday when the domino effect starts to fall after SVB collapsed.

its not a risky bet it has all been arranged , some of Cina best practices should be exported elsewhere too

Who buys bond in 2020 and 2021? This is an interesting story but hardly concerns western investors.

@deepdude4719

2 жыл бұрын

Why not?

She’s excellent this reporter 👍🏻

lol.

There is a lack of insight in all chinease companies. Trying to read up is hard when knowing that there are no oversight on their reports to.

Nice content, 7:15

The power struggle in China is reflecting in it's financial markets.

Are all 4 of Gordon from Malaysia kids dead?

It's called communism....

They executed the man holy cow talk about setting an example that’s one way 😂

In Indonesia ,huarong would be worshiped and facilitate as vvvvvvip person by government 😁😁😁😁😁😂

Who after Evergrande?

That's how corruption of scale should be dealt with. 👏

@aryankhobragade4638

3 жыл бұрын

If the same were to happen in India that would mean FEO's like Mallya, Nirav Modi and Mehul Choksi would have been executed long ago 😂

@georgewright4285

3 жыл бұрын

Well except when the judicial system isn't independent and you can quickly get sentenced if you anger, for whatever reason, someone who has more power than you

@ankur.mahajan

3 жыл бұрын

@@georgewright4285 True

Executed for a financial crime! Gangsta

With a debt to GDP ratio of 300% and growing, a currency nobody wants, and terrible immigration policy, China will stagnate, at best. Before China ever becomes the center of the world economy, the country will get wamboozled by a demographic crunch. China has the fastest aging population in the world, very little senior care, and even with a "3 child policy" nobody wants to have children because people are too busy working and taking care of their old parents. The population will be halved by 2100. As the population retires and dies out, nobody will want to buy all of those unoccupied apartments for investments anymore, (which is 40% of housing and mostly financed with bad loans). As people need the cash to retire en masse, the real estate bubble will burst taking the economy with it. If I had to bet on an Asian country it would be India. They have much more favorable demographics and don't depend on the rest of the world for trade. China, not so much.

oh man, she's beautiful

@myczxr

3 жыл бұрын

wow

I won't say it's bad debt. The same goes for the US Gov. debt! The reason is central bank can keep print new money for its state owned banks. very low risk of default. U.S. has been play the game for centuries.

Death seems a bit much, though...why not life imprisonment, only make him do some kinda "financial sweatshop work" to earn privileges and change for the commissary....

@amaizeing.dumbass5123

3 жыл бұрын

Looks more like they know he knows too much about the Chinese market and politics, and they want to get rid of it, regardless of how it looks inside or outside the country. It may backfire very hard, especially dealing with foreign investors

They always get bailed out , no need to fear lol. These are known facts

@samsonsoturian6013

3 жыл бұрын

Who is they? Also, this is China. Wherever you're from, note China works completely differently

China Cartels

this story is pretty incomplete. you guys forget to mention that the chairman of huarong was a major ally of former CCP leader jiang zemin. during his career Lai became the money launderer of the top CCP hierarchy. since the current CCP leader Xi is trying to purge the party of people not allied to him, it was time for Lai to go. i mean can you actually believe that an organization as paranoid and surveillance happy as the CCP only became aware of Lai's corruption recently? also, ONLY $270 million!? did they not look under the bed! c'mon bloomberg, you guys can do better than this.

China is not as rich as it used to be.

@samsonsoturian6013

3 жыл бұрын

It never was rich. They simply "put on a face," which is a Chinese expression BTW.

@jenniferbleuse8712

2 жыл бұрын

it was never rich . It's a third world country .

@MrChenjinyuan

2 жыл бұрын

@@jenniferbleuse8712 What school did u go to. It's all over the news. The second largest economy in the world soon to become the largest. Or do u still belong to a group of previous Imperialists and colonial racists who believe that only people of white skin are allowed to accumulate wealth?

@jenniferbleuse8712

2 жыл бұрын

you are so funny . China is the most imperialist country in the world . And you are anti white racist . No doubt about it . i'm myself biracial and i can't stand racism towards white people or anyone else . STOP with your communist propaganda@@MrChenjinyuan

Play too much

China's going down and the financials know it. Get you investments out of China. I know I'm out. Xiping not getting my money.

kudos for china , this will set an example

Jiwasraya-nya indo

I have respect for the ccp somehow although I am not comfortable with death punishment Greetings from Germany Hamburg

The guy didnt have financial experience thats why he was corrupt am not the best bt thats y

At least they actually arrest the corrupted bankers, here we let them go with a 7 figure bonus check.

Imagine such a crackdown done by every major market (US,Europe,India) govt. then we don't have to see 2008 like financial crisis in our lives again.

Couldn’t half the politicians & State companies be charged also?

Such example of death for corruption should be adopted around the world ! Few corrupt people plundering millions/billions in many developing countries where many day laborers are making less than 5 dollars a day!

You dont need corruption in politics when you have only one party. Who are you going to bribe? 😂

@ProfAzimov

Жыл бұрын

There are elections in the CCP.

No more selling endangered animal species!