Other critics questioned the wisdom of using central-bank financing. “The central bank may have plenty of resources to help the capital market sail safely through a crisis, but these resources are publicly owned and ultimately paid for by taxpayers, so it must be extra discreet when using them,” a source close to the central bank said.…
An investment banker who did not want his name printed added: “Market reform will never be successful if the government resorts to intervention at every a crucial moment.MarketWatch
Rare look inside China’s stock-intervention war room
Caixin Online
The financiers and vultures are bitter :)
ReplyDeleteIt was the same whining at Zero Hedge when the US intervened to stabilize markets at the time of the financial crisis, supposedly depriving them of their just deserts if the "free market" had been allowed to work.
ReplyDelete