Tue, 06/02/2009 - 6:52am — lambert
Ouch!
China is the biggest foreign owner of U.S. Treasury bonds. U.S. data shows that it held $768 billion in Treasuries as of March, but some analysts believe China's total U.S. dollar-denominated investments could be twice as high.
"Chinese assets are very safe," Geithner said in response to a question after a speech at Peking University, where he studied Chinese as a student in the 1980s.
His answer drew loud laughter from his student audience....
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Ouch, indeed
Imagine what kind of blow at his ego that must have been. His ego must still be smarting. lol Bless his heart; he doesnt' seem to get that he's a joke, or at least part of it. Either that, or he simply doesn't care, which is equally as likely.
But, we've always been at war with Eastasia...