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Fan Xiaolin, an engineer in Changsha in central China, thought he was safe when he deposited his family's savings of 800,000 yuan ($130,000) in a private finance company he said was recommended by employees of state-owned Bank of China.
squeegee joined in and replied with this 11 years ago, 32 minutes later, 1 day after the original post[^][v]#577,979
and that's why we regulate banking in america
Anonymous E joined in and replied with this 11 years ago, 1 hour later, 1 day after the original post[^][v]#577,982
@previous (squeegee)
The federal reserve is grate.
Anonymous F joined in and replied with this 11 years ago, 2 hours later, 1 day after the original post[^][v]#577,997
@577,979 (squeegee)
We should totally have unregulated and uninsured banks. Then old people could lose their money to scams Made in the USA™ instead of losing it to Nigerians. Someone needs to lose their retirement fund to buy rich people yachts; why not yachts for the rich people in the US rather than overseas?
(Edited 1 minute later.)
Anonymous G joined in and replied with this 11 years ago, 2 hours later, 1 day after the original post[^][v]#578,018
> The 23-year-old university student in Hangzhou, a city on China’s eastern seaboard, has a stock-market problem. He borrowed 200,000 yuan ($32,215) from mom and dad, piled the money into mainland shares without their permission, and got caught in the biggest sell-off in two decades.
Anonymous I joined in and replied with this 11 years ago, 1 hour later, 3 days after the original post[^][v]#578,439
@577,982 (E)
I love not officially owning my money!
Anonymous J joined in and replied with this 11 years ago, 21 hours later, 4 days after the original post[^][v]#578,738
Metæ joined in and replied with this 11 years ago, 11 minutes later, 4 days after the original post[^][v]#578,794
@577,997 (F)
China has regulated and insured banks. The person in @OP story went to a non-insured, unregulated bank to get a higher interest rate, incurring a greater risk by doing so.
Syntax joined in and replied with this 11 years ago, 4 minutes later, 4 days after the original post[^][v]#578,795
@previous (Metæ)
The current bank loss is chump change by comparison to loss on stock market - 3 Trillion in US dollars - borrowing from a regulated bank ain't saved the fools who bought crap stock