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Ernst and Young on China: Never Mind!
Ernst & Young, the accountancy firm, has withdrawn a controversial report on China's non-performing loans, saying its estimate of bad debts for the country's big four state banks "cannot be supported and … is factually erroneous..."
Remainder at link, behind registration. I guess that settles that.
Yup, I mean, the Chinese would never allow banks there to have quadzillions in non-performing loans, nope, nope ...

Posted by: Phil 2006-05-15
http://www.rantburg.com/poparticle.php?ID=151962