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China's stocks are sky-high. And Chinese companies are huge investors. That means a serious market backslide will send balance sheets into free fall.

Let's rewrite that, shall we?

"Commercial paper valuations are sky-high. And investment banks are huge investors. That means a serious credit crunch will send balance sheets into free fall."

We have met the enemy, and he is us — Pogo

by Migeru (migeru at eurotrib dot com) on Thu Nov 22nd, 2007 at 10:36:30 AM EST
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