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S. Con. Res. 78, A concurrent resolution expressing the sense of Congress that the People's Republic of China and all enterprises owned or controlled by the People's Republic of China should make proper disclosures with the Securities and Exchange Commission regarding the selective default status of certain bonds (292 comments ↓)
- This item is from the 110th Congress (2007-2008) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.
S. Con. Res. 78 would express the sense of Congress that the People's Republic of China and all enterprises owned or controlled by the People's Republic of China should make proper disclosures with the Securities and Exchange Commission regarding the selective default status of certain bonds.
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Visitor Comments 
eddie mahaffey
May 4, 2008, 8:21pm (report abuse)If our congress wants our support they need to support the citizen of the US. Our economy is on a downward trend and most of it is the result of how our Congress lets other countries dominate our economy.
Wendy Buzbee
May 5, 2008, 12:32am (report abuse)We all have to pay what we owe, why should China get special treatment? Please support this bill.
Luke
May 5, 2008, 12:37am (report abuse)Please support this bill,it would benefit alot of Americans.
Curtis
May 5, 2008, 4:19am (report abuse)The PRC should be accountable like all other countries , please support this resolution
F. De Troyer
May 5, 2008, 4:27pm (report abuse)This debt must be settled. Make them pay. Otherwise what about international trade in futur ?
SENATORS VOTE FOR THIS RESOLUTION>>>NOW
May 5, 2008, 5:17pm (report abuse)ALL US Senators - You are doing your State and more importantly your COUNTRY a disservice if you do not pass this resolution >>>NOW
China continues to SCAM Americans
May 5, 2008, 5:20pm (report abuse)Senators - Pass this resolution now. Do not keep allowing China to SCAM Americans. The responsibilty now sits with YOU!
China should be ashamed
May 5, 2008, 9:37pm (report abuse)China, you should be ashamed of yourself. The fact that to this day you still KILL your own citizens demonstrates how backwards you really are. That being said, whate you do in your country is your business. However Internationally it is not. You should hide your face with shame and guilt that you cower behind soverign immunity and not confess the real debts that you owe, not only the United States but the world. COWARDS, COWARDS, COWARDS -------- US Senators if you do not pass this bill you are just as guitly and should hide your face with the same shame and guilt!!!! YOU ARE RESPONSIBLE.
H D Hildebrand
May 5, 2008, 10:57pm (report abuse)The last time I looked, its called the United States Senate, not the Chinese Communist Senate. US Senators work for and are accountable for their decisions to the citizens of the United States. If they (US Senators) do not vote in favor of this Resolution, then they have shown their true color and most likely have forgoten/discarded the oath of office they took. Its time for China to be weened off of US government protection and own up to the fact they owe money period, no if's and's or but's about it.
"We the People" The United States Citizens are owed the Protection of the US Senate, not the Chinese.
J Masterson
May 6, 2008, 3:59am (report abuse)Enron ...subprimes...What else ? China ?
America needs this resolution
Bob
May 6, 2008, 5:38am (report abuse)|If China wants to "look good" for the Olympics they should "pay up"
Please support this bill.
David
May 6, 2008, 7:59am (report abuse)These bonds are an obligation that China shound make good on. It would be good politics on their part to build trust.
Barbara Illiano
May 6, 2008, 12:31pm (report abuse)Please senators this bill must be supported immediately!
J Cawley
May 6, 2008, 1:13pm (report abuse)China are totally out of order. They should have to pay their old debts.
I support this bill.
Sam Antoanef
May 6, 2008, 3:59pm (report abuse)China should honor its debts if it is to have any future credibility
Take Action Now
May 6, 2008, 4:02pm (report abuse)Everyone please write your Senator(s) and have them support this bill NOW. You need to speak up!
Tom E
May 6, 2008, 10:11pm (report abuse)This bill needs the Senators support Please make China pay their debts.
Diana Maguire
May 7, 2008, 4:43am (report abuse)Please support the Bill.
China should of course honor its promise to pay.I understand it has previously made payments in similar circumstances.
David Warren
May 7, 2008, 5:49am (report abuse)What about the China's property law ???? China has to pay its sovereign debts
Convert D
May 7, 2008, 6:03am (report abuse)All "communists" are same "Give me your watch and I'll tell you the time.
Before Olympics , game is over it's time for China to pay.
PLEASE SUPPORT THIS BILL
Shame on China again
May 7, 2008, 6:29am (report abuse)China's forex reserve tops $US1.4 trillion and american citizens need to take legal action against China to be repaid
This bill must pass
Richard Paige
May 7, 2008, 9:59am (report abuse)Please US Senators do not fall to Chinese pressure regarding this bill. DO WHAT IS RIGHT, pass this resolution NOW!!!
Dr. Steve
May 7, 2008, 10:45am (report abuse)It's is obvious to all who make up the "fabric of America" that this bill and it's current and intended future purpose is just. China continues to “abuse” Americans in it’s financial practices and, to the amazement of us all, the U.S. Gov has yet to stand up to them!!! Supporting this bill is only a PART of what should be being done to stop China’s practices. I tell you now, if we do not stand up to them – we will be bowing down to them in loss of our way of life here in America!!
Come on Washington!!! Do you job and defend the American people!!
Frank Rushey
May 7, 2008, 11:14am (report abuse)For those Senators who continue to favors China..STOP. The citizens that elected you are watching your vote on this bill. This is IMPORTANT!
Now is your chance to vote on an important piece of Legislation that will benefit ALL Americans and stop the Chinese from continually defrauding its citizens. Vote for this Legislation immediately.
Ken Montone
May 7, 2008, 11:35am (report abuse)The time is long past due for China to pay their debts. Please support this bill.
Rod Milne
May 7, 2008, 1:09pm (report abuse)It is extremely important for you to support this bill. China must be held accountable for it's debts
Ferran A. Hausmann
May 7, 2008, 1:38pm (report abuse)The original bond purchasers lent China a lot of money in good faith. China must pay the debt back. Please support this bill.
Joshua Barnes
May 7, 2008, 1:52pm (report abuse)I just stumbled onto this and can’t believe this is even being discussed. The fact that so many people are concerned their Senators might not sign this is just heartbreaking. Signing a bill like this aught to be a foregone conclusion, and I can’t imagine for the life of me what would possess any public servant not to. China is a growing super power and a prosperous nation and its no secret much of that prosperity has come thanks to the American people and at great costs to American manufacturing. I understand forgiving debt to impoverished, crumbling countries, but not to a superpower whose aim it is to supplant American greatness. If there is to be a peaceful, lasting, and mutually beneficial economic partnership between our two countries, insisting they honor their most basic commitments is critical.
Lisa Miller
May 7, 2008, 3:01pm (report abuse)Why should China not be expected to pay their debts? The U.S. is expected to pay China for debts owed? why should China get away with this? I support this bill.
Frank Markell
May 7, 2008, 4:38pm (report abuse)China makes everyone else pay the debts they incur to China...why should they be the exception! Pass this bill Senators!
Convert O
May 7, 2008, 6:46pm (report abuse)This strong resolution needs the unconditionnal support of all US senators
Tammy
May 7, 2008, 9:11pm (report abuse)Please support this bill. I agree with the others that say "we have a say in who gets re=elected." Make your vote count! Listen to the people.
scott
May 7, 2008, 10:55pm (report abuse)ATTEN: All CONGRESSMEN AND SENATORS,this comes down to that you are either for the USA,and it's best intrests,or you are for China.. and did we not put you in a position to do what is best for America and the people who live and work hard? This should be a no brainer!!
Franck T
May 8, 2008, 4:09am (report abuse)China protects the private property on March 16th, 2007 and in december China announces the repudiation of certain bonds of its sovereign debt ????
Please senators , listen to the people and support this bill
Douglas Rowenhorst
May 8, 2008, 9:25am (report abuse)Please support this important bill. It is time for China to meet its obligations.
VB
May 8, 2008, 10:30am (report abuse)It is simple to see that our Senators can finally agree to do something good and right by supporting millions of Americans that China is indebted to. Senators don't sit on this, pass this resolution now.
Nick L.
May 8, 2008, 11:43am (report abuse)I spent 6 years in the Marines serving the interests of Washington; it is time Washington does the same for its citizens.
Tom Chochrek
May 8, 2008, 12:16pm (report abuse)Thank you Senator Inhofe for introducing this resolution. We the People, ( remember us? ) ask our government (Senators and soon, the House of Representatives) to take action and support this resolution. China must be taught a tough lesson on how the free world conducts business and SHAME on our rating agencies. They must be made to disclose the truth about the China's defaulted debt to all prospective investors. Supporting this resolution is a critical first step.
Karolus
May 8, 2008, 12:19pm (report abuse)Just as with any other solvent yet evasive debtor enforcement action should be taken against China to secure payment. The first step is obviously to officially recognize the default status of that issuer who has not settled claims worth hundreds of billions of dollars held by US citizens to whom the Senate is accountable. Official punitive action must be taken against the rating agencies who have been reaping billions of dollars in fees from the Chinese government in exchange for hiding the truth of the Chinese default from investors worldwide by atrributing it "investment grade" ratings. Exactly the same can be said about the ratings attributed to the RUSSIAN FEDERATION who is in default on hundreds of billions of euros to French holders of defaulted Russian bonds, please visit:
http://www.cesr-eu.org/popup_responses.php?id=4098
Any politician worth half his salt should vote for this resolution.
Chad
May 8, 2008, 12:26pm (report abuse)Senators are elected by the people and it is about time they started doing work for the people of their country. We pay you to assist the citizens of this country and it is about time you stood up for our citizen's interest and stop being persuaded by outside factors.
Doc Lucinda
May 8, 2008, 2:47pm (report abuse)Our markets have made the PRC a booming economy. They can now afford to pay their debts.
Katherin Eggleston
May 9, 2008, 2:24am (report abuse)American citizens are expecting senators to defend their rights
Please support this bill
Nancy
May 9, 2008, 2:29am (report abuse)This is a GREAT start!
I am glad to finally see Congress making an effort more in the American Citizens favor !
j Labylle
May 9, 2008, 3:42am (report abuse)Before Olympics why should China get preferential treatment ?
Senators ,make them play by the same rules as others countries
,this bill must pass .
Trelon
May 9, 2008, 6:09am (report abuse)All american citizens are expecting senators to defend their rights
Please support this bill now
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From the Blog
Which Would Make China Look Better? Hosting the Olympics or Paying Its Debts?
“If China wants to ‘look good’ for the Olympics they should ‘pay up.’” So says commenter “Bob” on the page for Senate Concurrent Resolution 78, which would express the sense of Congress that the People...