China executes billion-dollar banker — former Huarong boss Bai Tianhui took bribes so massive they 'shocked the state'
China executes billion-dollar banker — former Huarong boss Bai Tianhui took bribes so massive they ‘shocked the state’ - Regtechtimes
I think in the long term this kind of thing puts China ahead of the US
Someone didn't get their cut.
Any chance the USA could get a little bit of this justice?
Here in the states taking large bribes just means you are a republican, specifically the president.
Lets not pretend the republicans are the only millionaires in congress. There's a reason neither side bans congress from owning stock when they're in power.
Gonna have to check you on that one, pal. Bribes are baked into the system in the form of campaign contributions. Special interest money, PAC money, etc., are legal bribes.
Trump just pardoned Texas Democrat Henry Cuellar this week - he took bribes. Susan Rubio of California was accused it, and it's understood Newsom turned his head after the PG&E fires...
Fuck this government. It's designed for bribery, GOP or Dem.
specifically the president.
Or the former Governor, current Senator from Florida: https://www.miamiherald.com/news/politics-government/article288431251.html
This is an area where the U.S. could learn a lot from China come 2029.
That shakedowns and show trials can serve as a substitute for rule of law?
So shakedowns and show trials should be only for the lower classes? No, let the rich have a taste of their own medicine for once.
The US has rule of law?
Last I checked, it was just a two tiered justice system.
It would still be better than the garbage we are getting today
Why substitute? Isnt that part of rule of law?
Finally some uplifting news
If this happened in the United States, Donald Trump would have pardoned him.
In the U.S. nothing would have happened in the first place. Bankers and the wealthy are above the law in the US.
What about the bribers?
The government wasn't shocked enough apparently...
And then people wonder why the Chinese have very high confidence in their government. Even if they only do this to the most brazen, that still builds an image of a government working for its people. It also sends the message that corruption has limits to the would-be corruptees.
And then people wonder why the Chinese have very high confidence in their government.
Yeah, nothing to do with total government control of the media...
The CCP is rotten to the core. What we're seeing here is that someone was caught not playing the corruption game according to the CCP's rules.
I don't think you're allowed to have low confidence in the government there.
I don't think it's as much of confidence as it is fear. CCP is not really known for its transparency.
This guy got a public execution, average citizens might just disappear.
There's public data independently gathered by western sources on this. Like this from Harvard. You could even see the numbers on corruption shift over time.
He took 1.1 billion yuan equal to 156 million dollars
Trump is asking the government to pay him 230 million just for investigating him.
See that’s how you get paid. In the US they flip over for $10k and box seats to an nba game.
'shocked the state'
Sure they had a nice moralistic speech prepared for whichever part of the execution process they broadcasted. (edit: nationally ofc)
As if the CPC didn't understand the concept of bribery.
The bribe was so big EVEN THE CPC WAS SHOCKED.
Not that they were shocked anyone had taken bribes...
whichever part of the execution process they broadcasted.
They broadcast executions here? What channel?
Not to get all tankie here.... but executing corrupt bankers? America could learn a thing.
Biggest mistake of 2008 was not holding people accountable. Second biggest mistake was bailing out the banks.
The government should have enforced collective bargaining to keep people in their homes, and cap ARMs at 3% APR, and make the maximum payment of a mortgage no more that 25% of the owners annual income, and capped the term length at 30 years. Bank's can't make money on those terms? Fuck'em. We should care more about people being able to live in their houses than we should care about a billion dollar business' bottom line. Investing comes with risk, accept the risk that if you build a system that topples the economy and forces people out of homes due to predatory loans, that you might lose some profit.
Sigh as the .ml user, I guess I'll be the tankie about it....
WOO! LET'S GET OUT THE POPCORN!!!
I am an anarchist, but I find myself saying that more and more lately. Some people got more conservative as they age, I wonder if Gen Z might get more tankie as they age and be like "Fuck it, let the communists do what they gotta do"
As an older Gen Z, not only will I let the commies do what they gotta do but I'll grab the shovel and start digging some graves
While I do think the rich need much more consistent and aggressive punishments for their crimes... I am still not a fan of the state killing people. Especially when they themselves are often corrupt.
What's to say they just want to do something like this to insert their nephew as new head of said bank etc?
States are killing people all the time, as are billionaires and corporations. I've got problems with the death penalty in practice too, but I'm not giving a single fuck about something like this.