China is so corrupt. I would never trust their stock markets. It's like a cheap Chinese knockoff of the Dow, complete with cadmium and lead paint.

http://www.bloomberg.com/news/articles/2015-06-28/china-s-auditor-says-state-firms-falsified-revenue-and-profit

People who are not tarded have known this for years and have been says so publicly.

Also....[URL=http://www.independent.co.uk/news/business/news/bear-market-grips-chinese-stocks-as-investor-panic-grows-10354182.html]China Sucks aka Bear market grips Chinese stocks as investor panic grows/URL]
By BEN CHU
Monday 29 June 2015
China’s stocks turned into a bear market on Monday, as frenzied selling continued in the country’s bourses despite the Beijing central bank slashing interest rates at the weekend in order to calm investor nerves.
On Saturday the People’s Bank of China cut its one-year lending rate by 25 basis points and lowered its reserve requirements for some commercial banks by 50 basis points in order to boost lending in the wake of heavy falls in equity markets last week.

Shocked.



I am truly shocked.

And for the Communist Solution..........Shoot the auditor in the head.

It's a cookbook!

it never happens here

America is any different? Yeah right...

People here go to jail for that shit....except if they are running government agencies or quasi government companies.

Enron

That's for sure. Never ever.

I've read more than my fair share of Audit reports in Oklahoma.

This is my shocked face...

As opposed to our stock market which is openly corrupt with the fed doling out cash to prop up the market and insolvent banks.

.



corruption in China?  nice catch there



and in other news.... the sky was a rather pretty shade of blue today

Yeah. Fannie Mae...? The "Protected" individual who was running THAT fucking mess got a hefty bonus and retirement.

We're NO different than the rest of the corrupt world.

TC

is he dead yet?

Just 14?

They have a gigantic bubble that is going to pop and make our 2007/2008 burst look like a wet fart.

Well no shit.

So when does this dude die?

Did you even read my friggin post?

They may just take the accounts at the 15 companies out and execute them next week and lay the blame on them....or they could make an example out of the CEOs of the worst offenders. China is very fickle that way.

I have repeatedly talked about the time I watched CNBC Powerlunch with the Wall Street heavy hitters, the panel was asked about their China strategies. One said he did not have one because he avoided China, citing their smoke and mirror accounting that is full of BS. Another at the table said you just have to know who to get the numbers for, the first guy who was older retorted they were communist and they lie, all the time, and none of the numbers were trust worthy.

There was also a FOX Business interview with some Wall Street guy who had written a book about China and his business dealings there, he basically said the same thing. He stated that he no longer did deals there that had to do with manufacturing or tech transfers...he detail the third shifting and theft. He would only do business in the services area and he was very clear about the Chinese courts doing whatever they were told by the party. He also talked about the corruption in the companies and the ChiCom Party willingness to look the other way when it came to the theft...right up until the person in question became a public embarassment/stole too much. Millions ok, Tens of Millions, sure, Hundreds of Millions who doesn't like money, Billions you fuxed now comrade.