For the Wall Street cabal to blame China for this country's economic woes is tantamount to being outsmarted and maneurvered by amateurs. Wall Street has been playing the capitalist game for more than a century. China is a novice at capitalism and trade.
Only after Mao's death did China wake up and realize that they had to get into the game since communism was failing and China was a mere country of peasants and Communist Party leaders.
Wall Street can't blame regulatory constraints of the government that gave China an unfair advantage. The fact is Wall Street saw a vast undeveloped market and gave China a seat at the table of the poker game we call global economics and borrowed and bluffed its way into an economic house of cards out of greed and arrogance.
The reason they could afford to do this was because they weren't playing with their money, they were playing with the American public's money and jobs and financial security.
So Wall Street was either stupid and greedy or just plain stupid.
Jan 15 2010 - 4:11am