Chinese Premier on need to break up big banks

“With banks making record profits and the people frustrated by low interest rates on deposits and lack of lending, a nation’s leader is speaking out: “Let me be frank. Our banks earn profit too easily. Why? Because a small number of large banks have a monopoly.”

Those comments came not from President Obama, Tim Geithner, Ben Bernanke or any other U.S. policymaker; instead, Chinese Premier Wen Jiabao made them during a broadcast on China’s state-run National Radio. Here is the direct link.

This entry was posted in Main Page. Bookmark the permalink.

Leave a Reply

Your email address will not be published.