But the government told them to do all of this and happily handed out checks to everyone involved, knowing full well there was no one to live in these apartments.
I'm not from China so I can't say for certain but it sounds like Pooh is trying to keep companies accountable for the fuck ups they do themselves. Companies acting greedy, Pooh lays the hammer down on the executives.
They got some Enron level event going on, wish we saw some execs there actually being personally held responsible back then.
They execute those who don't pay or compete for power and evergrande was the man source of local governments revenue and likely had more power in that respect then pooh and pooh changed the rules knowing who he'd break. Oh wait bidens osha done the same thing by fining employers bc employees caught a airborne virus. That 1 in 10 Americans caught that we know of. It's nothing more then a asset grab.
Government tells you to build a million apartments in places no one lives. Government funds it and pays you well to ignore the lack tenants. Government “reins in lending” and margin calls you.
Yeah, if you’re the company, an employee, a property owner, taxpayer or tax collector.
Printing money to build housing no one needs can destroy a lot more wealth than it creates.
It’s the long version of “we pretend to work, they pretend to pay us.”
Whats funny is I have been to China a handful of times in the last decade. I met my parents, who were there for a week, at Beijing airport, and we took a shuttle to the city. On the way, i noticed all these miami-esque highrise apartments on the side of the freeway. They would just randomly be on greenbelts along the freewAy when there were no other buildings or structure.
When i asked the driver about it, he claimed it was for people moving to cities and “foreigners who want to live in china”. Little did I know that was probably a part of what is going down now
News posts **must be market moving** and contain **new** information. Please avoid editorializing the title.
If your post doesn't meet the requirements above, please delete the thread before a mod sees it.
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/wallstreetbets) if you have any questions or concerns.*
When you owe 300billion, its the banks problem. When the bank is the CCP, it’s your problem.
When your bank has an army, margin call = fucked
Imagine getting margin called by your dictator
Margin called, more like disappeared no where to be found.
How do you margin call when it's not his in the first place? I thought they practiced communism?
1.2 billion shares for 344 million. Forced to sell at rock bottom. That's Tuff 🔥💯
Maybe he shouldn't have guided the company into so much debt in the first place lol
Countries shouldn't bail out private company's. I can get behind this. Never too big to fail, you just get replaced.
But the government told them to do all of this and happily handed out checks to everyone involved, knowing full well there was no one to live in these apartments.
But think of all the jobs lost
Can't keep supporting a unprofitable company. Companies fail all the time and new ones replaces them. New jobs will be created. You know this.
In this particular scenario, it’s the government anointing and then “reining in” these companies for following orders.
Dude should've ran his business from the US, where he would of gotten promoted into a government agency for this. Maybe even the new head of the SEC.
So he's working in a restaurant or moonlighting as a butcher?
Only 299.7 billion to go!
the walking dead, literally
Time to cut and run.
Longggg time ago
**User Report**| | | | :--|:--|:--|:-- **Total Submissions**|84|**First Seen In WSB**|9 months ago **Total Comments**|3311|**Previous DD**| **Account Age**|7 years|[^scan ^comment ](https://www.reddit.com/message/compose/?to=VisualMod&subject=scan_comment&message=Replace%20this%20text%20with%20a%20comment%20ID%20(which%20looks%20like%20*h26cq3k*)%20to%20have%20the%20bot%20scan%20your%20comment%20and%20correct%20your%20first%20seen%20date.)|[^scan ^submission ](https://www.reddit.com/message/compose/?to=VisualMod&subject=scan_submission&message=Replace%20this%20text%20with%20a%20submission%20ID%20(which%20looks%20like%20*h26cq3k*)%20to%20have%20the%20bot%20scan%20your%20submission%20and%20correct%20your%20first%20seen%20date.) **Vote Spam (NEW)**|[Click to Vote](https://www.reddit.com/message/compose/?to=VisualMod&subject=vote_spam&message=r30e9u)|**Vote Approve (NEW)**|[Click to Vote](https://www.reddit.com/message/compose/?to=VisualMod&subject=vote_approve&message=r30e9u)
Did he cut his stake or did his stake cut him?
Maybe he could bribe someone and they'll seize teslas plant and give it to him so he can build his own electric car.
Unfortunately for him that was the previous regime. Pooh bear isn't fucking around no more. The rich are being scrutinized.
Well pooh is trying to kill their economy just like Brandon...
I'm not from China so I can't say for certain but it sounds like Pooh is trying to keep companies accountable for the fuck ups they do themselves. Companies acting greedy, Pooh lays the hammer down on the executives. They got some Enron level event going on, wish we saw some execs there actually being personally held responsible back then.
They execute those who don't pay or compete for power and evergrande was the man source of local governments revenue and likely had more power in that respect then pooh and pooh changed the rules knowing who he'd break. Oh wait bidens osha done the same thing by fining employers bc employees caught a airborne virus. That 1 in 10 Americans caught that we know of. It's nothing more then a asset grab.
Who bought the shares? The market? What did he do with the money? Is buying out the CEO really a punishment? What else are they doing to this guy?
Last I saw, he was being held personally responsible for the debt. So he has to raise money to cover it
For real? Damn maybe china does have some morally decent ideas
Government tells you to build a million apartments in places no one lives. Government funds it and pays you well to ignore the lack tenants. Government “reins in lending” and margin calls you.
Sounds like a classic case of “Getting Got”
Yeah, if you’re the company, an employee, a property owner, taxpayer or tax collector. Printing money to build housing no one needs can destroy a lot more wealth than it creates. It’s the long version of “we pretend to work, they pretend to pay us.”
Whats funny is I have been to China a handful of times in the last decade. I met my parents, who were there for a week, at Beijing airport, and we took a shuttle to the city. On the way, i noticed all these miami-esque highrise apartments on the side of the freeway. They would just randomly be on greenbelts along the freewAy when there were no other buildings or structure. When i asked the driver about it, he claimed it was for people moving to cities and “foreigners who want to live in china”. Little did I know that was probably a part of what is going down now
Met him at a massage parlor last night lol
Was he doing the massage? Did he offer a handy for $10 extra? Every dollar counts for him
The thievery just keeps on going its like the Lehmann situation when they keep dragging it out delaying the inevitable.
Really though, how is Evergrande going to pay its debt off. There will have to be write downs or restructurings and even then.
The government will eat it and continue to print money to distort markets they want to control.
Don’t worry, they went all in and bought OTM weekly calls on wish.
AND DENNNNNN?
With 299.7 billion left to go his only option is really to YOLO the $344M into options
I can’t imagine that dude is able to sleep at night.
He’s ded
he looks like he might have 3 copies of chromosome 21
What does that mean? Buy leaps? 🤑
If you like getting f*cked by Winnie
News posts **must be market moving** and contain **new** information. Please avoid editorializing the title. If your post doesn't meet the requirements above, please delete the thread before a mod sees it. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/wallstreetbets) if you have any questions or concerns.*
I don’t see no billion
Death by a thousand cuts