Ernst & Young, the accountancy firm, has withdrawn a controversial report on China's non-performing loans, saying its estimate of bad debts for the country's big four state banks "cannot be supported and Â… is factually erroneous..."Remainder at link, behind registration. I guess that settles that.
| Yup, I mean, the Chinese would never allow banks there to have quadzillions in non-performing loans, nope, nope ... |