China’s banks may be loaded up with hidden bad loans

When jinzhou bank, in north-eastern China, showed signs of distress at the start of the year, state media suggested that a billionaire named Li Hejun might be behind its problems. Mr Li, a solar-panel tycoon, was once China’s richest man. His firm was known to have tight links to the bank. And it was not […]

Can We Stop Bleeding the Taxpayers to Cover Unpaid Student Loans?

In one of the nation’s greatest blunders, we (that is, our representatives in Congress) decided to subsidize higher education with easy-to-get loans for anyone who wanted to give college a try. The total of student loan debt is $1.7 trillion; some of the debtors can’t pay back what they owe, and our “compassionate” political leaders […]