“In 2015, for instance, Chinese state-owned banks lent $1.2 billion to a private Chinese business to buy an 80% stake in Ironshore, a U.S. insurer whose clients included the Central Intelligence Agency and Federal Bureau of Investigation officials and undercover agents who might need help paying legal bills in case they got into trouble in their jobs.”
Omg they let their insurance be privately owned? How has this whole thing not collapsed under the weight of it’s own incompetence. It has to be sheer inertia at this point.
The whole company would be worth $1.6 billion…that’s less than the DoD loses in the fucking couch cushions in any given year! Incredibly funny.
It’s probably another venture to launder money