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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- This item is from the 110th Congress (2007-2008) and is no longer current.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 
Presbourg
May 14, 2008, 5:56am (report abuse)American citizens are expecting senators to defend their rights
Please support this bill
France-USA friendship Association
May 14, 2008, 6:11am (report abuse)association friendship France-USA -
We are with You :
China pay your debt !
Cynthia M.
May 14, 2008, 6:15am (report abuse)On the face of it, when it comes to getting our money back from China it often looks as if most Amercican politicians were actually working with and for China and against their own countrymen.
Why is it so dificult to get our representatives to actually represent our legitimitate and straightforward interests?
Senators, surely you see it is your duty to subject this resolution to a vote and then vote favourably?
Guy Naples
May 14, 2008, 10:00am (report abuse)This is a worthwhile cause! This bill must be supported please it's important for America and the world!
gail las vegas
May 14, 2008, 4:15pm (report abuse)this bill should pass immediately. senators who do not support american citizens should not hold office!it's time to show your support and loyalty to the AMERICAN CITIZENS!
Lannes
May 15, 2008, 3:29am (report abuse)Please support this Bill. China is an educated nation and needs to pay her debts
Gill H. Casey
May 15, 2008, 11:57am (report abuse)If I consistently miss payments on my mortgage when they come due, my credit rating goes down and eventually mu home will be reposesed. Why should China be treated differently? Present this resolution and get it approved please.
Bessieres
May 16, 2008, 4:47am (report abuse)Please support this important bill. It is time for China to meet its obligations.
Sally Pedrazzini
May 16, 2008, 9:29am (report abuse)I 100% agree with this bill and US senators should listen a little bit more US citizens when they ask some help very easy to give .
Dear Senators support S Con Res 78 please !
KH
May 17, 2008, 6:14pm (report abuse)I hope the our US senators will act on this resolution - the desires of their constituents are certainly clear enough.
Ernie Bono
May 20, 2008, 10:01am (report abuse)I have written my two Reps here in florida.I hope they react,but I think they are afraid of China They own 40% of our Country now
Tyler
May 20, 2008, 1:57pm (report abuse)All of the get tough talk on China is heard before every Presidental election.Then after elected nothing happens!!Then the USA falls further and further in debt to China.Please all Senators and Congressmen,SUPPORT THIS BILL and make them play fair.THEY ARE RIPPING US,THE (USA) OFF IN EVERYWAY POSSIBLE. Atten: Washington State, Congressmen and Senators!!!!
Molitor
May 21, 2008, 6:07am (report abuse)Thank you Senator Inhofe for introducing this resolution, please support this issue
Suchet
May 21, 2008, 6:08am (report abuse)China has a responsibilty to pay her bills. Please support this Bill.
Dennis Miller
May 23, 2008, 11:55pm (report abuse)Remember when it used to feel good to be an American. Let's hope Senator Inhofe has some colleages who will do the right thing and support this resolution. Make me feel proud again!
Henry Palmisano
May 25, 2008, 1:35pm (report abuse)Senators, please do the right thing - which is also what you have been elected for: put this resolution forward and vote for it.
Thank you.
Jenny FRANKS
May 27, 2008, 7:14am (report abuse)There is clearly no wiggle-room here for the debtor (China), the Credit Rating Agencies (Standard and Poors, Moody's, Fitch who are in denial on the People's Republic of China's notorious and massive default) and the regulators.
How could anyone in his right mind not support this bill unless he works for the Chinese government?
Senators, stand up for your constituents.
Maribel Bueno
May 27, 2008, 2:19pm (report abuse)Maybe china's goverment thik we are; A FRAGIL COUNTRY. Don't give this apparence please. Support this bill, because WE are USA, the strong Country, supporting and helping the citizens. Not like china's slaves state.
Maybe other countries can follow China's example and not pay them obligations. Cool rigth?
Bessieres
May 31, 2008, 3:59am (report abuse)This bill needs the Senators support Please make China pay their debts.
Scott
June 2, 2008, 6:21pm (report abuse)I think that if our elected officals will not help out and support this resolution,we should let the media know in your own state.The public is not aware of the ties that some of these elected officials have personaly with China!!!
Tefta
June 8, 2008, 7:51pm (report abuse)I'm surprised that Congress really wants to go here with China - they currently own an obscene percentage of America - I guess it might be a leverage thing, but trying to play nasty with them could end up costing us big time if they call in OUR bonds......hopefully they'll tread carefully on this matter.
Bill
June 8, 2008, 8:25pm (report abuse)Tefta,the diffrence is that the US is paying on the bonds we owe on.CHINA has not, and will not pay on bonds that they have owed on for 50 years.. They do not play fair in the financial market place. You need to more reasearch on this topic!!
Mike Watts
June 24, 2008, 6:17pm (report abuse)Any United States Senator who does not uphold both U.S. and international law by supporting this Resolution has no right to wear an American Flag lapel pin. The global community needs to hold China responsible for following the established rules, rather than rising as a revisionist power intent on setting its own rules.
Mike Watts
June 24, 2008, 6:20pm (report abuse)The only reason a Senator would not support this Resolution is if he or she were in the pockets of either China or their lobbyists, and favored their interests over those of American voters.
Jay
June 25, 2008, 1:16am (report abuse)People get treated the way they let other people treat them. The same principle applies to nations: permissiveness inevitably leads to appeasement, and so this legislation is long overdue. I work in (and have friends in) the television news industry. We are watching this to see who on the Hill is in Wall Street and China's pocket, and who is protecting the interests of American citizens.
Christopher Warner
June 26, 2008, 2:37am (report abuse)Tefta, if they called our bonds, the US would make more in penalties applied to the US bonds, lets hope they take that strategy. As for the Chinese bonds due Americans, I vote we boycott the Games, and don't let them make more money when they so flagrantly blow off due monies to American Citizens
Lloyd
June 29, 2008, 7:18pm (report abuse)It is unbelievable that United States taxpayers pay China $40 billion each year in interest payments on U.S. government bonds held by China, yet China refuses to repay its government bonds held by Americans.....and the U.S. Executive Branch grants China an exemption from international law in order to protect Wall Street bonuses. This is treason.
Sanders
July 6, 2008, 7:30am (report abuse)China has a responsibilty to pay her bills. Please support this Bill.
Paul Hasselhoff
July 15, 2008, 4:09pm (report abuse)China pay your long overdue debt like the rest of us. Senators here is your chance to make a difference
Rogers
July 20, 2008, 8:51am (report abuse)The simple fact is : China borrowed, China must pay back. Or do we no longer need to pay our debts?
Gorfon Tanner
July 26, 2008, 3:50pm (report abuse)I urge all members of Congress and the Senate to support this bill for the benefit of the American people. The non support is tantamount to allowing the Chinese government to have superior rights to the American people.
Mike
August 6, 2008, 7:31am (report abuse)China pays debt to Soviet Union for weapons to kill American soldiers:
http://my.telegraph.co.uk/asiawatch/blog/2008/08/04/china_pays_debt_to_... />
China demands Freddy Mac/Fannie Bailout using American taxpayers' money:
http://my.telegraph.co.uk/asiawatch/blog/2008/07/24/china_demands_us_ta... />
Outraged at Congress yet?
R Bron
August 12, 2008, 1:42pm (report abuse)Congress needs to act now and support this bill. What would be the reasons not to support it. A very rich country owes money, repay it. Enough said
WM Contreras
August 13, 2008, 3:52pm (report abuse)I support China by shopping at Walmart, driving a Toyota and watching the Olympics on my Sony TV. I'm sure they can afford to pay some old debts!! China, as a culture believes in "good karma", right? Maybe, maybe not. But, it's up to our Government to pass this bill. Do what is good and right for the American families.
Thomas Porter
September 15, 2008, 4:34pm (report abuse)China has a responsibilty to pay her bills. Please support this Bill.
El Cid
September 27, 2008, 2:17pm (report abuse)How unfortunate that this bill and issue have fallen on deaf ears. My vote is "no confidence" in the current American Congress. This has been going on for years with no consequences to China
Current Status of US Debt
October 12, 2008, 7:19pm (report abuse)Don't we already owe the Chinese billions and billions right now? I don't see how, with our current financial situation, that the Chinese and the US governments would be receptive to this plan.
scott
December 31, 2008, 2:14pm (report abuse)I think the SEC and the credit raring agenceys should be looked at for the reason why we are having some many financial problems in the US.They give anyone (China) good credit ratings for the bonds they put out,because they get paid to do so.China does NOT play by the same financial rules that everyone else does!!
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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...