If The International Speculators Are Like Milken [King of Junk Bonds] Ripping People Off Like the Texans With $17,000 Electric Bills These Speculators Should Be in Jail For Usury & Financial Fraud Anyways!

Ron Wieczorek

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 China’s Handling of the Evergrande Crisis Has International Speculators Worried

Oct. 10 (EIRNS)—After two skipped bond payments by the Chinese real estate developer Evergrande, and with an official default “credit incident” imminent, the Chinese government’s gameplan of protecting Evergrande’s domestic customers while forcing its international creditors to take a major haircut, is causing great consternation among those creditors. Reuters reports, for example, that “A group of bondholders have enlisted investment bank Moelis & Co. and law firm Kirkland & Ellis to advise them. ‘We all feel that an imminent default on the offshore bonds is or will occur in a short period of time,’” said Bert Grisel, a Hong Kong-based managing director at Moelis, in a call with bondholders on Oct. 8. Radio Free Asia fretted that “the ruling Chinese Communist Party appears to be proceeding with a controlled sell-off of the company’s assets, leaving investors short-changed.”