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intelshill@lemmy.ca to World News@lemmy.ml · 1 year ago

China’s new rules for finance pull the brakes on gravy train, bringing ‘greed is good’ era to a halt

www.scmp.com

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China’s new rules for finance pull the brakes on gravy train, bringing ‘greed is good’ era to a halt

www.scmp.com

intelshill@lemmy.ca to World News@lemmy.ml · 1 year ago
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With new regulations and mandates, is the party over for China’s finance sector?
www.scmp.com
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China’s finance sector was once freewheeling, but new regulations and mandates from officials suggest banks’ new role looks beyond simple profit-seeking.
  • intelshill@lemmy.caOP
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    1 year ago

    Overlegislation of the financial sector will lead to financial collapse. An upper crust of obscenely wealthy bankers is essential for the proper function of the financial system and thus the economy.

    • xep@fedia.io
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      1 year ago

      You forgot the /s, here, take this one.

    • TheAnonymouseJoker@lemmy.ml
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      1 year ago

      LMAO burger

    • Kit Sorens@lemmy.dbzer0.com
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      1 year ago

      Underlegislation leads to a bloated, extortionate upper crust that weilds disproportionate power over those who rely on said financial system. There is a balance, and the problem you outline is the lesser of the two extremes.

    • Alsephina@lemmy.ml
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      1 year ago

      Everyone’s sarcasm detector is turned off today it seems

      • Krackalot@discuss.tchncs.de
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        1 year ago

        There are American citizens that legitimately believe you unlock a multimillion dollar bank account if you write a note at 45° in red marker on your bills. We need the /s because someone is always stupid enough to actually believe everything it seems.

    • RemoveEgoDivineFreedom@lemmy.world
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      1 year ago

      🤡

    • ComradeSharkfucker@lemmy.ml
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      1 year ago

      💀

    • Omega_Haxors@lemmy.ml
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      1 year ago

      You gotta be careful people on your instance will say that kind of thing unironically

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