Ex-Bank of China chief sentenced to death

[emad]

August 13, 2005

Ex-Bank of China chief sentenced to death
From Jane Macartney in Beijing

THE former chief of the Bank of China’s Hong Kong division was sentenced to death yesterday after being found guilty of corruption as the communist state tries to restore faith in the banking system.
Liu Jinbao’s sentence was, however, suspended for two years in a move that usually means it will be commuted to life imprisonment.

The case is the latest in a string of scandals in China’s state-owned banks, which are beset by bad loans and corruption just as the country prepares to sell shares abroad.

It comes as institutional investors in Britain have expressed concern about a possible $2.4 billion (£1.34 billion) investment by Royal Bank of Scotland in Bank of China, the country’s second-largest bank by capitalisation and its premier foreign exchange dealing bank.

RBS was reported to be one of four non-Chinese investors poised together to spend $6 billion for a 25 per cent stake.

http://www.timesonline.co.uk/newspaper/0,,175-1733020,00.html

[Copperred]

1. The D???

DEATh???

[Deja Q]

2. If only the US justice system was so kind.

Except in the US, the same person would get a golden parachute the rest of us would be paying for during the remainder of our lives via interest payments and other means.

[Copperred]

5. ....

Some truth in that...

but what it shows most is how the West..is complicit in the oppression of Chinese workers....granted they are being paid..and ulike the Arab masses...i doubt will collectively look to punish us back in return...teh arab masses are beign ruled by monarchs...at least here China is evolving in what appears the right direction in many areas.......i wonder if this will be lightened....i woudl suspect even RBC and otehrs from the west maybe like....look we really want ur companies to be more transparent...but u dont have to kill to get it.

[emad]

9. US justice system has the awesome Eliott Spitzer who as a

successor to the equally dynamic Bob Morgenthau in NYC is a force to be reckoned with.

Have been following Spitzer's investigation into HSBC US acquisitions with great interest.

Hope he opts for even higher public office one day - as a Democrat President's Annorney-General.

[NYC]

15. Morgenthau is Manhattan D.A.

Remains so. He's been around forever.

Spitzer is New York State Attorney General.

Different position. So, we have both at once, which is good.

[leesa]

3. If only we could do that here, huh?

[TroubleMan]

16. My thoughts exactly.

nt

[hobbit709]

4. If they did the same

to corporate crooks here, there'd be a lot less corruption. If Ken Lay was left dangling from a lamp post in front of the Enron building as an object lesson, a lot of people's life savings and pensions would be safer.

[Copperred]

this is true but....

..the odds of killing the wrong people exist, and further the punishment just doesnt fit the crime....and it would be a horrible place to live....most of our best and brightest would simply LEAVE.

[lonestarnot]

10. Move to change venue on Ken Lay!

[Copperred]

8. this is true but....

..the odds of killing the wrong people exist, and further the punishment just doesnt fit the crime....and it would be a horrible place to live....most of our best and brightest would simply LEAVE.

[0007]

13. ......or Neil Bush in front of a firing squad for the Savings & Loan scam

[emad]

6. Watch the news in the next few weeks as story breaks of HSBC

involvement in this scam.

And RBS in the UK may be the first in the domino wall to tumble.

[newscott]

7. Now that's one heck of a punishment for white collar crime!

[dicknbush]

11. just testing

want to see if this works for me

[SoCalDem]

12. Whoa!! talk about an early withdrawl penalty

:eyes:

[Coventina]

14. Now THAT'S taking white collar crime seriously!

A little too seriously. I'm against the death penalty, even when people "deserve" it.

Life in prison sounds pretty good. I wish we had more of that here.

[Bmongilly]

17. Life vs. Death

I personally think life without paroll is a worse punishment than death, and it takes more money to execute someone than to give them life without paroll.