Drudge Retort: The Other Side of the News
Monday, October 08, 2018

"I am too small to fight them," a 31-year-old woman from Zhejiang province, China, wrote in a note to her parents in early September after losing almost $40,000 when an online peer-to-peer lending firm went bust. "A state-backed P2P just ran away, its shareholder unwilling to take any responsibility, investigators are dragging their feet. I am too tired and cannot see any hope." The woman then hanged herself. Her death and her letter were chronicled in chat group posts on the social media site Weibo. Hundreds of others who say they were victims of the same company, PPMiao, came to Shanghai to protest in late August, only to be turned back by police and security guards outside the International Finance Centre, where a firm connected to the lender has an office.

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Occupy Shanghai got crushed by the authorities too.

#1 | Posted by bored at 2018-10-08 01:48 AM | Reply | Newsworthy 1

state-backed P2P

Big, possibly more than fraud is occurring here.

#2 | Posted by GOnoles92 at 2018-10-08 02:24 AM | Reply | Newsworthy 1

Another reason why we need regulations to keep things open and honest.

#3 | Posted by BruceBanner at 2018-10-08 01:11 PM | Reply | Newsworthy 1

The FDIC is progress.

#4 | Posted by bayviking at 2018-10-08 05:55 PM | Reply

But, but, but...Trump is President! China is perfect. America is the devil.

- Every Liberal in America

#5 | Posted by humtake at 2018-10-09 01:04 PM | Reply

^ said no one ever, but it isn,t the first time you blarantly lied.

#6 | Posted by e1g1 at 2018-10-09 02:28 PM | Reply

#5 it's actually the GOP who advocate Chinese policies here.

#7 | Posted by BruceBanner at 2018-10-10 11:33 PM | Reply

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Drudge Retort