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Post by zzr600 on Feb 1, 2016 15:05:39 GMT
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Post by Ton ⓉⓞⓃ on Feb 1, 2016 21:57:30 GMT
I think the piccy of a giant pyramid halfway thru' the article is over doing it. Is regulation in China up to anything... each time this happen enormous damage is being done to Chinese confidence in general.
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james
Posts: 2,205
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Post by james on Feb 2, 2016 6:02:55 GMT
Nothing quite like a pyramid picture in a ponzi scheme story to show that the publication doesn't know the difference between the two.
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ablender
Member of DD Central
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Post by ablender on Feb 6, 2016 11:01:42 GMT
I think the piccy of a giant pyramid halfway thru' the article is over doing it. Is regulation in China up to anything... each time this happen enormous damage is being done to Chinese confidence in general. They do not use giant pyramids over there. They use giant pandas instead. 
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Mike
Member of DD Central
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Likes: 444
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Post by Mike on Feb 7, 2016 18:16:45 GMT
I am +8 in Hongkong and the industry here struggles. The greed and short sightedness of the directors (not restricted to the industry) makes for a relatively low return for very high platform associated risk. I have been offered 7%pa 2nd charge only UW in central HK property market despite it being the first lend of the 'platform'.
Remember also, outside Hongkong, you cannot consider there to be any form of common law applied in China.
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Post by Ton ⓉⓞⓃ on Feb 7, 2016 18:25:39 GMT
I am +8 in Hongkong and the industry here struggles. The greed and short sightedness of the directors (not restricted to the industry) makes for a relatively low return for very high platform associated risk. I have been offered 7%pa 2nd charge only UW in central HK property market despite it being the first lend of the 'platform'. Remember also, outside Hongkong, you cannot consider there to be any form of common law applied in China. Are you aware of the financial qualifications necessary to take fiduciary positions in China? I have the feeling that sticking to the rules is optional.
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Mike
Member of DD Central
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Likes: 444
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Post by Mike on Feb 15, 2016 12:32:50 GMT
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Post by Ton ⓉⓞⓃ on Feb 15, 2016 13:18:03 GMT
Reading some of these reports it would be odd to suddenly have HSBC move there (well HK).
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james
Posts: 2,205
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Post by james on Feb 15, 2016 14:53:50 GMT
This could be very nasty: "China Banking Regulatory Commission’s (CBRC) decision in December to bar P2P platforms from raising and lending funds on their own ... The China Insurance Regulatory Commission said questionable P2P players were those that raised funds on their own before offering loans to clients." That seems to mean that P2P firms are banned from using peer lenders as a source of funds to lend. If so it's a tsunami-sized tide going out that will expose much more than fraud.
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