Fear Spreads as China’s Finance Firms Face Arrests 

“We’ve never seen anything like it in the past,” said Fraser Howie, a co-author of “Red Capitalism,” a book on China’s financial system, referring to the scale and scope of the probes. “Without question, it’s unprecedented.

”There have been no shortage of bad practices over the past 20 years, including manipulation and offenses such as insider trading, for the authorities to investigate — had they chosen to do so, Howie said.  “It begs the question: where were the investigations in past years?”

Source: Fear Spreads as China’s Finance Firms Face Arrests – Bloomberg Business

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