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IPFS News Link • China

The hedge fund manager who nailed the subprime crisis says China's problem right ....

• Business Insider

The letter, seen by Business Insider, warns that China has a problem much bigger than the subprime crisis in 2008.

Bass was one of the hedge fund managers who correctly predicted and profited from the mortgage crisis in 2008.

The problem in China, according to Bass, is the banking system and its coming losses.

"We have been vigorously studying China over the last year, with the view that the rapid credit expansion in the Chinese banking system will result in significant credit losses that will require the recapitalization of Chinese banks and materially pressure the Chinese currency," Bass wrote in a letter to investors dated February 10.


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