China Puts Wang In Jail

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Chinese officials are imploring investors not to be tempted by the tips of Mr. Wang (like parents of teenage daughters in the Midwest).
Wang Xiujie (pictured) was arrested in Changchun (Changchun is often called the Paris of the Jilin province) for giving investment tips on his blog Daitou Dage 777. Daitou Dage 777, which stands for “senior big brother” and is also the name of a popular kung fu character, is one of the most popular blogs in China.
Mr. Wang, a former stockbroker, rakes in more than $1 million a year giving advice on his site and delivering “personal messaging services” to clientele. No charges have been filed against the Wanginator and the China Securities and Regulatory Commission (also a popular kung fu character) will not comment.
China’s regulatory bodies are deciding how to randomly oppress the common man in the securities industry and the $50 billion under unlicensed private management. Unlicensed private funds (“hedge funds” in China, and a popular kung fu character) represent almost a third of the private asset management sector.
Chinese blogger held over stock tips [Financial Times]

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