July 22, 2020
Whatever we do - let's make absolutely certain we continue to allow fraudulent Chinese companies to list on US exchanges, fleecing American investors with impunity.
Thankfully, Congress appears ready to kill the recent bill intended to de-list Chinese companies which fail to submit their audit packages for review. Special call-out to the investment banks, auditors, and exchanges which have successfully lobbied Congress to axe the bill.
The bill is completely out of line - China is the only country whose companies do not have to open up their audits to review. To take any action which might infringe on China's special status would be simply unjust.
After all - it is in America's best interest that we allow Chinese criminals to siphon Billions of dollars from retail investors so that American investment banks, audit firms, exchanges can earn Millions in fees.