Chinese investors lose everything after bubble bursts

What strikes me about this article is the similarities to the US in 1929 after the crash. People in China are losing everything, throwing themselves out of windows and wondering how they will survive. Then there are a few choice comments by typically smug financial types (from Credit Suisse and Morgan Stanley) who say "tough luck." It's not that I don't agree to some extent, but hey, look at Wall Street or City bankers in London and see how "tough luck" has worked out for them. Yea, they're really hurting with taxpayer bailouts as they continue to luxurious lifestyles on other peoples money. Hard times, indeed.

The small Chinese investors, much like American investors, have every right to be angry. The Chinese government (like in the US, UK and EU) loved the cash generated by the stock market and the prestige of a fast-growing market was an added bonus. Governments are always much too happy to feed a bubble and then when it goes 'poof' they run for the hills, so yes, the Chinese, the Americans and everywhere else have every damned reason to be angry. It's irresponsible for governments anywhere to promote bubbles and they ought to live with the consequences. Of course, this sad story also helps put the government outrage over the Olympic protests into proper perspective. (Hint, think Saddam Hussein if you want to see the American version of this old distraction.) China has many more problems to come and their stock market crash is only the beginning.