this post was submitted on 18 Nov 2025
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"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."

speed-dont-laugh

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[–] TreadOnMe@hexbear.net 68 points 1 month ago* (last edited 1 month ago) (2 children)

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.

[–] AernaLingus@hexbear.net 45 points 1 month ago

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.

[–] FloridaBoi@hexbear.net 7 points 1 month ago

It’s probably another venture to launder money

[–] Adkml@hexbear.net 57 points 1 month ago* (last edited 1 month ago) (1 children)

Lmao I literally wrote this paper in college over a decade ago. Sure would be nice if the smart reasonable professionals could be as insightful and observant as literal children.

[–] LeeeroooyJeeenkiiins@hexbear.net 40 points 1 month ago

why do you want them to be? let china keep owning

[–] miz@hexbear.net 46 points 1 month ago (3 children)
[–] carpoftruth@hexbear.net 34 points 1 month ago (1 children)

it should be chinese checkers, or go

[–] BodyBySisyphus@hexbear.net 6 points 1 month ago

"Go" is the Japanese name, in China it's "weiqi".

[–] KuroXppi@hexbear.net 19 points 1 month ago (1 children)

炮 huh that's a funny piece I wonder what it does i guesd ill hide behind this tall rook for safety clueless

[–] LaughingLion@hexbear.net 12 points 1 month ago (1 children)
[–] context@hexbear.net 4 points 1 month ago* (last edited 1 month ago)
[–] DogThatWentGorp@hexbear.net 45 points 1 month ago

Loving the Chinese century so far. Good stuff as always.

[–] miz@hexbear.net 44 points 1 month ago (1 children)

officials and undercover agents who might need help paying legal bills in case they got into trouble in their jobs

insuring people for things that have never happened is very profitable

[–] blobjim@hexbear.net 6 points 1 month ago

I don't think it's trouble like being evil. Probably more like, had an affair with their boss's wife, looked at CSAM on the work computer, stole money from another asset. The usual hijinks.

[–] LaGG_3@hexbear.net 30 points 1 month ago

deng-cowboy Deng's trick, part 2

[–] PorkrollPosadist@hexbear.net 25 points 1 month ago

Ideology is a hell of a drug

[–] sexywheat@hexbear.net 24 points 1 month ago (1 children)