and when the property market went down, those products very quickly had to be revalued. china, most of its debt is held in these shadow banks and in some of the bricks and mortar banks so the rate of decline can be slowed a little bit. however, the bigger issue is debt. overall, the debt in the property sector is huge. as much as 30% of bank assets, and that will take a long time to unwind, and the central of government is very reluctant to step in and probably can t have enough cash. under the circumstances, what needs to be done? the government has to make decisions on allocating defaults. will mortgage holders get hurt? that is what happened in the united states, lots of people lost lots of money in their housing. will the banks be squeezed? they can be but then you can t put the banks out of business because then you lose your financial system. so there will be a lot of investors, people in zhongzhi, who they thought could make a killing, and they are losing theirshirt, p
missed doings about a year ago, including stealing as much as $10 million from his own customers. more now from new york. sam bankman fried was a towering figure in crypto. a self made entrepreneur who promised that his ftx crypto exchange was the safe and easy way to get into crypto currencies. his businesses brought him great wealth. at one point he was worth $26 billion, and propelled him into an a list social network of celebrities, some of whom he paid to endorse ftx.- celebrities, some of whom he paid to endorse ftx. with ftx i have everything paid to endorse ftx. with ftx i have everything i paid to endorse ftx. with ftx i have everything i need - paid to endorse ftx. with ftx i have everything i need to - paid to endorse ftx. with ftx i have everything i need to buy, | have everything i need to buy, sell and trade crypto safely. my sell and trade crypto safely. my goal has been to find a way of having my goal has been to find a way of having a positive impact on
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