Thursday, September 22, 2011
A father whose payments for his disabled child had been cut by the Romanian government leapt from a balcony in the parliament in protest against the decision. He was not seriously injured. A loud thud reverberated in the chamber after the man, Adrian Sobaru - identified by the country's public television station as one of its engineers - hit the benches shortly after Prime Minister Emil Boc greeted the lawmakers. As he jumped, he could be heard shouting: 'Boc, you've taken away the rights of our children'. Mr Sobaru, who suffered fractures to the face, and other non life-threatening injuries, was able to get into the parliament because he works as an electrician for the national television station. He then shouted "Liberty and Justice" as he was taken to hospital. He was also wearing a T-shirt with the slogan 'You've killed our future', according to reports.
JIM CHANOS: China's Property Bubble Is Hitting The Wall Right Now
On how a Chinese property bubble will play out:
"I think that will be the surprise going into this year, and into 2012 - that it is not so strong. The property market is hitting the wall right now and things are decelerating. The CEO of Komatsu said last week that he is having trouble getting paid for his excavator sales in China. Developers are being squeezed. They're turning to the black market for lending, this shadow banking system that is growing by leaps and bounds like everything in China.
"Regulators over there are really trying to get their hands around the problem. In the meantime, local governments have every incentive to just keep the game going. So they will continue with these projects, continuing to borrow as the central government tries to rein it in."