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China's National Committee Member demands investigation into the purchase of the U.S. home-loan Bonds

6 May 2012

Liu Mengxiong (刘梦熊), a member of the national committee of CPPCC (政协委员), once again slammed China's financial regulatory authority (国家财政金融管理当局) for purchasing $376 billion bonds from Fannie Mae & Freddie Mac, two US mortgage giants which were initially sponsored by the US government but now the Hillary-Obama administration refused to bail them out when they face bankruptcy. Mr Liu urged an investigation into the bond deals and demanded to know if there were undesirable drives or even treasonous motivations corrupting the judgment when making decision:


He has been looking for the explanation from the authority for years, but so far has received no response at all, either from the financial regulatory body or from its higher authority, namely the State Council which is led by Wen Jiabao who once told the Chinese public that to save America is to save China.

The below are some screen shots of Chinese comments posted on China's microblog:

- Corrupted officials started to get kickbacks from foreign businesses.

- Just keep spreading rumours about the death toll during early 60s - it's a effective method to shift public attention away from the bond scandal.

- Such investigation is long over due. Many of China's top consultants were recruited as U.S. economic agents when they studied there.

- Last year I interviewed Liu Mengxiong but when my report was republished by China News, I surprisingly found the part related to the US bond kickbacks missing. I urge the relevant organizations to be honest with Chinese public in terms of whether there were kickbacks in the trade, which officials were involved and how much they've got.

- You only need to find out who are the economic consultants to the decision makers then you'll know the truth immediately.

- Premier Wen Jiabao said there are rumours targeting him and his family. Now, this is certainly a big one, please prove to the public it isn't true.

- Some economic experts like to say that China has $2,000 billion foreign exchange reserve that must find a way to spend. But they only need to look around and they'll see how many people who have no shelter, how many kids who can't afford to go to school, how many elderlies who receive no financial support and how many citizens who have no money to go to hospital!

- Each Chinese citizen has a right to demand an answer from the financial authority and the State Council.

- It isn't a dreadful thing to invest overseas, but it is terrible when no one checks how the investments are done.

- The State Council is responsible for this bond disaster!

- We need to identify the biggest culprit and bring his to court - that will serve as a powerful warning to those who intend to committed high treason for their personal interest.













What Chinese Say ( +)






中国的现状:金权派正在不声不响的夺取政权,通过把中国绑在美债上的做法强迫中国走上外交软弱,军队有劲不能使,政府对内剥削,对外奉献。他们的人民币国际化的路线是在忽悠政府,配合台湾的归属,让胡昏了头,IPO可以不审, 养老金入市, 温州的金改, 退市政策..... 在中国现在的贪污腐败管理下,会要了谁的命?







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